#1 Does Google 401k plan allow post-tax contribution on top of the pre-tax 18.5k contribution? http://www.jhwfs.com/after-tax-401k-contributions/ #2 If joining in December can I still max out the 401k match from Google?
Yes! When you join, look up a TechTalk titled "hacking your retirement.". I'm guessing you'll be rolling this into a Roth IRA.
Yes plan is to roll into Roth IRA
cool! for #2 it depends on your income as others have noted. You can put 100% of your income into 401k until it maxes... just keep in mind if you also have previous contributions, this has to be factored in.
How much does G contribute to employee's 401k as match?
50%, so up to 9250 this year
Keep in mind that the 18.5k limit is an individual limit across all employers for the year, so if you've already contributed at your previous company you'll *need* to make after-tax contributions in order to get the full match of 9.25k. And that's assuming Google matches after-tax contributions in the first place, which I'm not 100% sure on.
No, they don’t afaik.
Any idea if I over contribute in 401k at Google to get full match and then I withdraw it later will they pull out the match as well?
Don’t do that. You’ll have to pay a tax penalty for early withdrawal.
I know that but won't it still be a better outcome of I can maximize the Google match. Do getting 50% return on the contribution vs 10% penalty. But if they also withdraw the employer match when I withdraw excess contribution then I'll be in the negative.
The money they contribute is instantly vested, that's just yours now.
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#1 Yes. #2. I guess that depends on how much you make. It’s unlikely that you’ll be able to put your sign-on bonus into your 401k because of tight deadlines (though I was able to). You’d have to start asking about it on your first day.
Great! Thanks
Can you please explain more about tight deadlines and start asking?