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Lucas participates in her employers 401(k) plan. Her employer contributes 50 cents for every dollar contributed by the employee. Julies salary is $200,000, and she
Lucas participates in her employers 401(k) plan. Her employer contributes 50 cents for every dollar contributed by the employee. Julies salary is $200,000, and she elects to contribute 10% to her 401k account (make sure to remember she might be limited on her contribution).
a.) How much of Julies salary is taxable this year?
b.) How much will Julie contribute to her 401k account?
c.) How much will Julies employer contribute to her 401k account?
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