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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?


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Wearmanyhats says

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5 years ago
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