Quote:
Originally posted by KC911
You are indeed correct...I just thought I was at a 16% rate for the whole year. That 16% max rate just happened to be the same at all three corporations that I have been with since 401Ks were implemented back in the mid 80s. Just like FICA....once you hit the limit for the year, you're maxed out...
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Then you start putting funds in Roth IRAs and other types of retirment savings accounts. There are plenty of ways to save it's just if people are willing to have less now to have something later.