Per IRS rules all 401k deposits must occur by Dec 31 of that year. 401K plans donot have the same rules as an IRA. So the deferred company match they are giving employees is for 2019 not 2018.. they are skipping the match for the rest of the year period! If you want to hit your 401K max limit for 2018 ($24,500) you will have to increase your personal contribution to offset for the lack of the Honeywell match in 2018.
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Agree @cuq. Pulled most of mine out a year ago and the rest will come with me when I exit this place shortly. This "loyal" employee has had enough.
At 59 1/2 I emptied the 401K with an in service distribution. They can keep their match, and I keep working and investing on the outside. F em.
Do you know what the definition of deferred is?
$24,500 is the max an individual can contribute before tax. This number has nothing to do with company match
Employees of record on December 15th are eligible for match to be paid in January if the following year.
Company matches do not count toward the maximum limits that an employee can contribute to 401k. However, there is combined total limit.
December 15.....