lifetime planner 401k catchup $6000 doesn't register

Unknown

I try to reflect my $6000 catch up contribution to 401k but it only shows as an "employer contribution" not mine.  Anyone else have this problem?

Unknown

Hi TG,

I'm sorry for any confusion or inconvenience this has caused. To help us provide you with the most appropriate answer, please let us know what Quicken product (QWin or QMac), what version (2015, 2016, etc.) and what release you have installed. Also, let us know whether you using the US version of Quicken or Quicken Canada. 

Thanks,
Dave

Unknown

ok.  It's Quicken 2017 Premier (USA version) for Windows

mshiggins

How did you enter the catch up contribution?

Unknown

thanks.

I used "change assumptions" in Lifetime Planner:

"Investments" -> edit, select my 401k entry, in Tab #2 "add" a "new" contribution to my 401k.  Define $6000 annually no other increases and no Company match.

See attached screen shots for the"before" vs "after" effect in my Plan Summary.  It doesn't look right to me ....  the Company contributions "after" the catchup  actually increased (see attached.)  And, I cannot tell how Quicken treated my catchups further down in the Summary as shown in "Tom contribs" (attached).

Regards,  TG

mshiggins

I'm trying to duplicate your "before" numbers. I've got the salary ($163,524) and employer contribution ($9,811) to match your "before" pictures, but the Total Tax-deferred is only $29,434. That's about $12,000 short of your $41,085 amount.

Is there some other tax deferred contribution in your plan? If so, I would temporarily exclude that so you can see the impact for the 401(k) alone. You can also exclude the catchup contribution to see its impact as well.

There does appear to be an issue with the employer contribution percentage being applied to all the 401(k) contributions in the plan. I typically adjust the employer contribution percentage to get the right employer contribution amount.

Unknown

you are a good detective.  I have another $12K going into two Roth IRA's ($5500 + $1000 catchup me and $5500 for wife's IRA).

OK I will experiment with temporarily excluding the other tax deferred contributions to see the impact of 401k alone.

Glad to hear from you that there is some kind of issue with the employer contribution; and I will try your suggestion to adjust the percentage in order to get the actual proper amount reflected correctly.

Regards, TG