Retirement Plan:
Maximizing Contributions
Contributed by: Leslie Michaelson, SPHR, SCP, Director of Human Resources
What is Front Loading/End of Year Loading?
Front-loading your contributions means you add the maximum amount of money allowed to your 401k at the beginning of the year. End of Year Loading means you wait until the end of the year to add the maximum amount.
Here a few tips to help you manage and maximize the contributions that you make towards your 401k plans.
Make sure to spread out your deferrals over the course of the calendar year to maximize your match contribution.
Front loading or End of Year loading your contributions could create an imbalance in your 401k and could result in you not receiving the full match amount available to you.
If you have questions on how this could affect your retirement plan, or how to make sure you are maximizing the match contributions please reach out to our retirement plan advisors at RBC Wealth Management.
