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Microsoft matches 50% of your contributions up to the annual IRS limit of $19,500 for 2021 (or $26,000 for those over 50, thanks to the additional $6,500 catch-up contribution). This means that for those contributing the maximum of $19,500, Microsoft would contribute another $9,750 towards your retirement savings.
For example, they could make most of their charitable contributions and medical expenditures in a year they plan to itemize. Optimize retirementplan contributions The maximum allowable 401(k) contribution for 2023 is $22,500, with a $7,500 additional contribution, if the plan allows, for taxpayers who are 50 and over.
Microsoft Compensation: Savings Opportunities Microsoft 401(k) Like most companies, Microsoft’s 401(k) is one of the first accounts you should consider saving money into. This means that for those contributing the maximum of $19,500, Microsoft would contribute another $9,750 towards your retirement savings.
Helping parents send their kids to college, care for an aging parent and retire with financial independence are literally what gets him up every day. Prior to joining EP Wealth Advisors in 2021, Scott worked for a number of the largest Wall Street firms, including UBS, Prudential and Wells Fargo. in English Language and Literature.
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