In this video, I’m talking about the 401k retirement plan over contribution. What happens if you contribution more than the 401k retirement plan limit of $19,000.

Contributing over the 401k retirement plan limit can cause you to have the 6% excess contribution tax.

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4 replies
  1. Mikey Utah
    Mikey Utah says:

    Im with one job. and today i went over the threshold by 500. last year it stopped automatically. this year it did not. my suspicion is they got a new payroll system and now everything is out of whack. new system kicked in a few months ago and my theory is everyone YTD values appeared to be zero. very upsetting. this is a 457b plan and government job. so its pretty unbelievable. guess it will be a huge headache come tax time.

    Reply
  2. Yg Bodybuilder
    Yg Bodybuilder says:

    I have 15% going to a equity growth fund, 25% going to small cap fund, 45% ina target date fund, 10 % in a mid cap fund and 5% in a bond. is this ok? should i have more risk? im 31 years old

    Reply

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