Shepherd's Lamb profile image 83

Can you have a tax-deferred payroll deduction to a personal IRA outside your employer's plan?

Let’s say your employer matches 50% up to a 6% payroll contribution to their 401k, but you have 12% to invest. I have four questions: If you don’t want to put that extra 6% into the employer plan and want to have an outside IRA account, can you have an automatic payroll deduction into that account that is tax-deferred? If not, and you select a Roth IRA (post-tax), is there a limit to annual contributions and do you have to claim interest earned on your yearly tax return? Rather than an IRA, would individual 'safe investments' be better?

sort by best latest


Wearmanyhats says

4 years ago
 |  Comment