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Kate puts 8 percent of her paycheck in a 401(k) plan administered by her employer. Kate earns $55,000 per year and is in the 28
Kate puts 8 percent of her paycheck in a 401(k) plan administered by her employer. Kate earns $55,000 per year and is in the 28 percent tax category. What annual tax savings does she get from her contribution? If her employer matches contributions on the first 5% of her salary dollar for dollar and the second 5% 50 cents on the dollar, how much will her employer put into her account this year?
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