Hi everyone,
Sorry for the basic question, but after several calls to T Rowe with no answers, I’m not sure how to manage this.
How do you guys have things set up so you contribute exactly $24,500 to your 401K plan? My employer matches 50¢ to the dollar up to 6% traditional. This includes a variable bonus amount twice a year, so I can’t say with 100% certainty what my total pay will be.
T Rowe allows me to select an additional percentage to contribute Roth. The problem is that my job won’t contribute past the federal limit, so if I overshoot slightly, I’ll miss out on the matching for the last pay period.
What is the best way to manage it so I hit the limit? Or am I stuck just getting it as close as I can? Thanks in advance!