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Asked 10/27/2010

My gross pay is 2083 and net pay is 1674. when I make an contribution to my 401k plan does it come from the net or gross pay

When I make a 401k contribution does it come out of the gross or net pay?

 
 
 
 
 
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Answer 1/1 - Submitted 10/29/2010

"Net" generally refers to what is left over after all deductions, withholdings, and contributions are taken out.

 
 
 
 
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