Phrases with «pretax contributions»

"Pretax contributions" refers to money that is set aside or deducted from your income before taxes are taken out. This means you don't have to pay taxes on the contributed amount right away, potentially reducing your overall taxable income. Full definition

Sentences with «pretax contributions»

  • It enables employees to make pretax contributions by salary reduction agreements structured within the format of a cash or deferred plan. (transamerica.com)
  • For example, the limit on pretax contributions to 401 (k) plans is $ 18,500 in 2018, but if you are age 50 or older, you can invest an additional $ 6,000 each year. (fidelity.com)
  • You put in pretax contributions in to an IRA, and you are taxed on that money (your contributions and interest earned) when you withdraw it at retirement, age 59 1/2. (money.stackexchange.com)
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