Hi,
I've moved to the USA for the first time in November (L1 visa, resident alien with work authorization), got my SSN and activated my employer's 401k with Vanguard.
My income doesn't qualify me for Roth and I'm planning to save some additional after-tax money in Vanguard funds, but I'd like to max out my 401k if possible.
Since I just moved in November, I could not contribute anything for November into the 401k, and I will start contributing from December's paycheck onward. My plan was to put in $1,500/month to get to the limit of $18,000/year.
I've been doing a bit of reading and wanted to see if I could make use of the 2016 limit fully. Based on my current projections I would contribute a total of $1,500 out of $18,000 for 2016, and then for 2017 I would max out my contributions.
Can I increase my contributions in January, February and March 2017 and put them as contributions that count against the 2016 limit? For example, I would increase them to $5,500 a month to go against the 2016 limit and then an additional $1,500 to go against the 2017 limit. Is that doable and how would I do that? I suppose I would need to contact payroll to do it, right?
Submitted January 03, 2017 at 09:32AM by tyr-- http://ift.tt/2hNe2H5
