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With my fidelity investment I was only able to allocate a certain percentage of my pay. If I chose to put in $500 per paycheck for example, it would automatically figure out the percentage of my salary. This might not be the same case for all employees. If I were you and based on commission, I would just do a percentage of my salary.
You're 401K plan will ask you to specify a percentage of your pay to designate as a contribution. Contribute as much as you can, and especially make sure that you take full advantage of any employer match! Thats free money you can't afford to ignore.
Say I invest $500 a pay automatically into my 401k with Fidelity. What happens if my pay is only $400 a particular week?
You need to ask the people in the human resources department about that. I know others here are saying they can only allocate a certain percentage, but my plan allows for contributions in flat dollar amounts up to 100% of one's paycheck, as far as I know (although mine is a 457 plan, so the rules aren't totally the same). The point is, the way 401k plans are set up can differ.
Location: Chapel Hill, NC, formerly NoVA and Phila
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My husband's company had the option of a % or flat amount. But his pay is the same every pay period, so it wouldn't occur to us to ask what would happen if the amount were less than his pay. I imagine most people are like him where the pay is consistent from one pay period to the next, which is why people probably don't know the answer. Please let us know what they tell you.
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