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After tax 401k - multiple companies

Meta hkiC67

Apr 16 18 Comments

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I am going to be leaving Meta soon and my new company offers less matching than Meta. I am planning on maximizing my 401k while I am at Meta.

I am also maximizing After tax 401k (mega back door) but I read that is per company.

Does this mean I can contribute another 20k at the new company for after tax 401k?

#investments #401k

1 18

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TOP 18 Comments

Google / Eng dogfoodie

No it's per person per year regardless of which company.

Apr 16 5 9
- Meta hkiC67
  OP
  
  Oh hmm
  
  Apr 16 0
- Meta hkiC67
  OP
  
  This sounds like I can double dip on after tax 401k..
  
  Apr 16 0
Meta EWbG84

Even if your company offers less matching than Meta, you should only contribute enough to your 401k to get the full Meta match and then contribute the rest in your new company to get the new company match.

Apr 16 1 2
- Meta hkiC67
  OP
  
  I think meta matches up to 50% right? Regardless of what you put in.
  
  Shoot that’s a good call out but I’m leaving May17. So it’s too late for that now. Next time!
  
  Apr 16 0
- Meta EWbG84
  
  Meta matches on the first 10,250 at 100% now, so optimally you would've just put in that much and then the rest in the new company.
  
  Apr 17 2
Amazon 7sd3f2

Yes you should be able to contribute up to 61000 - 20500 (total pretax limit) - employer match for each 401k account

Apr 16 1 0
Tinder crowdy

The combined limit is per 401k plan (i.e. per company), your pre-tax/roth contribution limit is for you, nonelective after-tax contributions don't count towards that personal limit.

Apr 16 1 0
Meta hkiC67
OP

Thanks everyone. Looks like mega back door can be done per employer.

https://www.bogleheads.org/forum/viewtopic.php?t=352567

Apr 16 0 0

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After tax 401k - multiple companies

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