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#1
11-17-2005, 04:31 PM
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 Re: 401k and Soc. Sec. "earned income limit" - quote - > > Do contributions to 401k reduce the income SS uses for their "earned
I have no reference to answer the question. However, I observe that 401k> > income limitation"? does not reduce the income used for FICA. I would be skeptical of a 401k contribution reducing earned income for SS limitation purposes. Elizabeth Richardson |
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11-16-2005, 12:33 PM
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| Re: 401k and Soc. Sec. "earned income limit" On Tue, 15 Nov 2005 12:10:12 -0600, "HW \"Skip\" Weldon" <skip5700removethis[at]hotmail.com> wrote: - quote - > Do contributions to 401k reduce the income SS uses for their "earned
Nothing like having a conversation with yourself <grin> , but I think I> income limitation"? have the answer. On the SS web site under the earned income limitation section they say that wages count in the year earned, not when paid. My reading of this would rule out deferred compensation plans like 401k as a way of coming in under the limitation. Absent someone having a specific rule to the contrary, I'm going with that. -HW "Skip" Weldon Columbia, SC |
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#-1
11-15-2005, 05:10 PM
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| 401k and Soc. Sec. "earned income limit" Having a hard time finding answer to this question: Do contributions to 401k reduce the income SS uses for their "earned income limitation"? For example, if a person age 63 draws SS, works part-time for gross wages during a year of $15,000 and contributes $5,000 of those wages to 401k, does he avoid the earned income limitation for '05? (I think it does avoid the limitation, but can't find anywhere that actually says it.) -HW "Skip" Weldon Columbia, SC |
| Tags |
| 401k, earned income limit, sec, soc |
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