I contribute to my 401k through my company's plan, but I do it as a percentage of my bi-monthly paycheck. If I were to exceed the maximum by the end of the year, what would happen? Would they simply stop withdrawing from my paycheck, or would I somehow be penalized for any overage that I allocated? Is there any chance that I am just losing this money entirely?
As a secondary question, what happens if I reach a point mid-year salary wise that prohibits me from contributing to a Roth IRA? Would I be automatically prevented from depositing, or would I receive notice at some point next year?
Thanks in advance.
Submitted August 15, 2017 at 10:59AM by smartwatersucks http://ift.tt/2wMgCRt
