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Asked 11/5/2008

I'm turning 50 in October 2009. Am I eligible for the catch up contributions in 2009?

Need to know how the over 50 rule is applied. Do you need to be 50 January 1st, or just turning 50 durring the year to be eligible for catch up contributions?

 
 
 
 
 
Answers

Answer 1/3 - Submitted 11/6/2008

You are eligible 1/1 - If you are projected to attain age 50 before the end of the calendar year.

 
 

Answer 2/3 - Submitted 11/12/2008

I think you just need to be 50 to do the catch up rule for 401ks

ask your company about it, they would know.

 
 

Answer 3/3 - Submitted 11/29/2008

If you are 50 by the end of the year, you can do catch up contributions, if your company will allow it.

 
 
 
 
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