If I have a 401k for a partial year can I still contribute the maximum amount?

Clash Royale CLAN TAG#URR8PPP

.everyoneloves__top-leaderboard:empty,.everyoneloves__mid-leaderboard:empty margin-bottom:0;

up vote
1
down vote

favorite

I will only have a 401k for part of this year. Am I still able to contribute up to the maximum contribution limit ($18,500 in 2018 this year) even though I only will have the plan for part of the year?

I moved from a job that did not have a 401k plan to a job that does have a 401k plan. I have not contributed to any other IRA or 401k so far this year.

401k

share|improve this question

asked 2 hours ago

Jordan Brough

1062

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

add a comment | 

up vote
1
down vote

favorite

I will only have a 401k for part of this year. Am I still able to contribute up to the maximum contribution limit ($18,500 in 2018 this year) even though I only will have the plan for part of the year?

I moved from a job that did not have a 401k plan to a job that does have a 401k plan. I have not contributed to any other IRA or 401k so far this year.

401k

share|improve this question

asked 2 hours ago

Jordan Brough

1062

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

add a comment | 

up vote
1
down vote

favorite

up vote
1
down vote

favorite

I will only have a 401k for part of this year. Am I still able to contribute up to the maximum contribution limit ($18,500 in 2018 this year) even though I only will have the plan for part of the year?

I moved from a job that did not have a 401k plan to a job that does have a 401k plan. I have not contributed to any other IRA or 401k so far this year.

401k

share|improve this question

asked 2 hours ago

Jordan Brough

1062

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

I will only have a 401k for part of this year. Am I still able to contribute up to the maximum contribution limit ($18,500 in 2018 this year) even though I only will have the plan for part of the year?

I moved from a job that did not have a 401k plan to a job that does have a 401k plan. I have not contributed to any other IRA or 401k so far this year.

401k

401k

share|improve this question

asked 2 hours ago

Jordan Brough

1062

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

share|improve this question

asked 2 hours ago

Jordan Brough

1062

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

share|improve this question

share|improve this question

asked 2 hours ago

Jordan Brough

1062

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

asked 2 hours ago

Jordan Brough

1062

asked 2 hours ago

Jordan Brough

1062

1062

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

New contributor

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

Jordan Brough is a new contributor to this site. Take care in asking for clarification, commenting, and answering.
Check out our Code of Conduct.

add a comment | 

add a comment | 

1 Answer
1

active

oldest

votes

up vote
3
down vote

I moved from a job that did not have a 401k plan to a job that does
have a 401k plan. I have not contributed to any other IRA or 401k so
far this year.

Because you have not contributed any money to a 401K plan this year, you can put the full amount into your 401K by the end of the year. Keep in mind that that for the purposes of the $18,500 or $24,500 limit it includes all the money you contribute to a 401K, 403, 467, or US Government TSP.

Your contribution to a 401K plan doesn't impact the amount of money you can put into an IRA, but participation in a 401K plan can impact if the contribution to an IRA is deductible.

Note that some companies limit the maximum percentage of each check that you can contribute into the 401K. Therefore the limited number of checks left in the year could make it hard to reach the limits. Also a paycheck with a date in 2019 is a contribution in 2019, even if all the working hours are in 2018.

share|improve this answer

answered 1 hour ago

mhoran_psprep

63.3k887164

• 
  
  
  

  
  

  
  
  
  
  
  

  
  Good answer. Please pay attention to the last paragraph, first sentence. Plan rules may preclude you from contributing the max.
  – Pete B.
  1 hour ago
  

  
  
  
  

add a comment | 

Your Answer

StackExchange.ready(function()
var channelOptions =
tags: "".split(" "),
id: "93"
;
initTagRenderer("".split(" "), "".split(" "), channelOptions);

StackExchange.using("externalEditor", function()
// Have to fire editor after snippets, if snippets enabled
if (StackExchange.settings.snippets.snippetsEnabled)
StackExchange.using("snippets", function()
createEditor();
);

else
createEditor();

);

function createEditor()
StackExchange.prepareEditor(
heartbeatType: 'answer',
convertImagesToLinks: true,
noModals: false,
showLowRepImageUploadWarning: true,
reputationToPostImages: 10,
bindNavPrevention: true,
postfix: "",
noCode: true, onDemand: true,
discardSelector: ".discard-answer"
,immediatelyShowMarkdownHelp:true
);



);

Jordan Brough is a new contributor. Be nice, and check out our Code of Conduct.

 

draft saved

draft discarded

Sign up or log in

StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);

Sign up using Google

Sign up using Facebook

Sign up using Email and Password

Post as a guest

Name Email

StackExchange.ready(
function ()
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f100687%2fif-i-have-a-401k-for-a-partial-year-can-i-still-contribute-the-maximum-amount%23new-answer', 'question_page');

);

Post as a guest

Name Email

1 Answer
1

active

oldest

votes

1 Answer
1

active

oldest

votes

active

oldest

votes

active

oldest

votes

up vote
3
down vote

I moved from a job that did not have a 401k plan to a job that does
have a 401k plan. I have not contributed to any other IRA or 401k so
far this year.

Because you have not contributed any money to a 401K plan this year, you can put the full amount into your 401K by the end of the year. Keep in mind that that for the purposes of the $18,500 or $24,500 limit it includes all the money you contribute to a 401K, 403, 467, or US Government TSP.

Your contribution to a 401K plan doesn't impact the amount of money you can put into an IRA, but participation in a 401K plan can impact if the contribution to an IRA is deductible.

Note that some companies limit the maximum percentage of each check that you can contribute into the 401K. Therefore the limited number of checks left in the year could make it hard to reach the limits. Also a paycheck with a date in 2019 is a contribution in 2019, even if all the working hours are in 2018.

share|improve this answer

answered 1 hour ago

mhoran_psprep

63.3k887164

• 
  
  
  

  
  

  
  
  
  
  
  

  
  Good answer. Please pay attention to the last paragraph, first sentence. Plan rules may preclude you from contributing the max.
  – Pete B.
  1 hour ago
  

  
  
  
  

add a comment | 

up vote
3
down vote

I moved from a job that did not have a 401k plan to a job that does
have a 401k plan. I have not contributed to any other IRA or 401k so
far this year.

Because you have not contributed any money to a 401K plan this year, you can put the full amount into your 401K by the end of the year. Keep in mind that that for the purposes of the $18,500 or $24,500 limit it includes all the money you contribute to a 401K, 403, 467, or US Government TSP.

Your contribution to a 401K plan doesn't impact the amount of money you can put into an IRA, but participation in a 401K plan can impact if the contribution to an IRA is deductible.

Note that some companies limit the maximum percentage of each check that you can contribute into the 401K. Therefore the limited number of checks left in the year could make it hard to reach the limits. Also a paycheck with a date in 2019 is a contribution in 2019, even if all the working hours are in 2018.

share|improve this answer

answered 1 hour ago

mhoran_psprep

63.3k887164

• 
  
  
  

  
  

  
  
  
  
  
  

  
  Good answer. Please pay attention to the last paragraph, first sentence. Plan rules may preclude you from contributing the max.
  – Pete B.
  1 hour ago
  

  
  
  
  

add a comment | 

up vote
3
down vote

up vote
3
down vote

I moved from a job that did not have a 401k plan to a job that does
have a 401k plan. I have not contributed to any other IRA or 401k so
far this year.

Because you have not contributed any money to a 401K plan this year, you can put the full amount into your 401K by the end of the year. Keep in mind that that for the purposes of the $18,500 or $24,500 limit it includes all the money you contribute to a 401K, 403, 467, or US Government TSP.

Your contribution to a 401K plan doesn't impact the amount of money you can put into an IRA, but participation in a 401K plan can impact if the contribution to an IRA is deductible.

Note that some companies limit the maximum percentage of each check that you can contribute into the 401K. Therefore the limited number of checks left in the year could make it hard to reach the limits. Also a paycheck with a date in 2019 is a contribution in 2019, even if all the working hours are in 2018.

share|improve this answer

answered 1 hour ago

mhoran_psprep

63.3k887164

I moved from a job that did not have a 401k plan to a job that does
have a 401k plan. I have not contributed to any other IRA or 401k so
far this year.

Because you have not contributed any money to a 401K plan this year, you can put the full amount into your 401K by the end of the year. Keep in mind that that for the purposes of the $18,500 or $24,500 limit it includes all the money you contribute to a 401K, 403, 467, or US Government TSP.

Your contribution to a 401K plan doesn't impact the amount of money you can put into an IRA, but participation in a 401K plan can impact if the contribution to an IRA is deductible.

Note that some companies limit the maximum percentage of each check that you can contribute into the 401K. Therefore the limited number of checks left in the year could make it hard to reach the limits. Also a paycheck with a date in 2019 is a contribution in 2019, even if all the working hours are in 2018.

share|improve this answer

answered 1 hour ago

mhoran_psprep

63.3k887164

share|improve this answer

share|improve this answer

answered 1 hour ago

mhoran_psprep

63.3k887164

answered 1 hour ago

mhoran_psprep

63.3k887164

answered 1 hour ago

mhoran_psprep

63.3k887164

63.3k887164

• 
  
  
  

  
  

  
  
  
  
  
  

  
  Good answer. Please pay attention to the last paragraph, first sentence. Plan rules may preclude you from contributing the max.
  – Pete B.
  1 hour ago
  

  
  
  
  

add a comment | 

• 
  
  
  

  
  

  
  
  
  
  
  

  
  Good answer. Please pay attention to the last paragraph, first sentence. Plan rules may preclude you from contributing the max.
  – Pete B.
  1 hour ago
  

  
  
  
  

Good answer. Please pay attention to the last paragraph, first sentence. Plan rules may preclude you from contributing the max.
– Pete B.
1 hour ago

Good answer. Please pay attention to the last paragraph, first sentence. Plan rules may preclude you from contributing the max.
– Pete B.
1 hour ago

add a comment | 

Jordan Brough is a new contributor. Be nice, and check out our Code of Conduct.

 

draft saved

draft discarded

Jordan Brough is a new contributor. Be nice, and check out our Code of Conduct.

Jordan Brough is a new contributor. Be nice, and check out our Code of Conduct.

Jordan Brough is a new contributor. Be nice, and check out our Code of Conduct.

 

draft saved

draft discarded

Sign up or log in

StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);

Sign up using Google

Sign up using Facebook

Sign up using Email and Password

Post as a guest

Name Email

StackExchange.ready(
function ()
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f100687%2fif-i-have-a-401k-for-a-partial-year-can-i-still-contribute-the-maximum-amount%23new-answer', 'question_page');

);

Post as a guest

Name Email

Sign up or log in

StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);

Sign up using Google

Sign up using Facebook

Sign up using Email and Password

Post as a guest

Name Email

Sign up or log in

StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);

Sign up using Google

Sign up using Facebook

Sign up using Email and Password

Post as a guest

Name Email

Sign up or log in

StackExchange.ready(function ()
StackExchange.helpers.onClickDraftSave('#login-link');
);

Sign up using Google

Sign up using Facebook

Sign up using Email and Password

Sign up using Google

Sign up using Facebook

Sign up using Email and Password

Post as a guest

Name Email

Name Email

Name

Email

Name Email

Name

Email