I received a letter today from my company. I'm now in the category of "HCE - Highly Compensated Employee" and can contribute only up to 10% of my annual salary to 401K.
10% of my annual salary is less than max of 2012 ($17,000)
Crap. Really?
My co-worker told me about this a couple of years ago, and I didn't even care because I was making waaaay less than HCE category.
But my promotion and job change to high cost of living area (salary is adjusted upwards to adjust the cost of living) pushed me into HCE.
I really don't feel like I am making a lot, but I guess I do.
Well, good news is I can still contribute 10% of my salary. I should be happy about that.
HCE
January 20th, 2012 at 08:00 pm
January 20th, 2012 at 08:30 pm 1327091445
January 22nd, 2012 at 08:15 pm 1327263305
Jerry