How to handle 401K Catch-up Contributions?

Posted by arhoolie on May 9, 2008, 7:11 pm

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Quicken Premier 2008 Windows XP

I've recently started having a 401K catch-up contribution deducted
from my paycheck. I'm wondering what's the best way to add this to my
paycheck. When I edit my current paycheck setup to add the new
catch-up deduction (which is $100) as a pre-tax deduction, Quicken
simply subtracts this amount from my net pay. In other words, it
seems to treat it as an after-tax deduction, not a pre-tax one.

I've tried both adding the $100 catch-up deduction to both my current
401K deduction and as a new separate pre-tax deduction. Either way,
Quicken seems to treat it as an after-tax deduction, thus goofing up
my net pay.

The built-in help is relatively useless in this area and I couldn't
find anything either in google groups or in the Quicken community area
that seems to address this exact situation.

Anyone else run into this situation? Should I simply delete my
current paycheck setup and start over from scratch?

-Thanks,
--
arhoolie

Posted by danbrown on May 9, 2008, 9:27 pm

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wrote:

> Quicken Premier 2008 Windows XP

> I've recently started having a 401K catch-up contribution deducted

> from my paycheck.

OK, I'm missing something here. If the catch-up contribution is
coming from your paycheck ... how is it NOT reducing your (why should
it not reduce) net pay? Is your employer making an additional $100
payment to you, that's being directed to your 401k?

db