The table below shows the 2014 BMC 401(k) Plan contribution limits as defined by the IRS.
| 2014 401(k) Contribution Limits | ||
|---|---|---|
| If you are under age 50 | If you are age 50 or older |
Your before-tax or Roth 401(k) contribution limit | Maximum of $17,500 (no change from 2013) | Additional $5,500 in catch-up contributions, for a maximum of $23,000 (no change from 2013) |
Limit on total contributions (your before-tax, after-tax and Roth 401(k) contributions plus BMC’s matching contributions) | $52,000 | $57,500 ($52,000 + $5,500 catch-up contributions) |
Limit on maximum amount of eligible compensation (base salary, short-term incentives, bonuses, overtime and commissions) | $260,000 | $260,000 |
Important Note: Your participation in the BMC 401(k) Plan for 2014 will stop at the first limit you reach. Plan your contribution percentage carefully to reach the IRS maximum and to receive the maximum BMC matching contribution. To learn more, watch this video about the BMC 401(k) Plan and use the BMC Retirement Savings Calculator (updated with 2014 limits on December 6, 2013).
Remember, you must change your contribution election between December 20, 2013 and January 7, 2014 if you want new deductions to begin with your first paycheck in January.
MyBMC Rewards provides a snapshot of your pay, retirement benefits, health and insurance benefits and corporate programs. Visit MyBMC Rewards to:
Go online anytime or call 877-262-4849. Representatives are available from Monday through Friday, 8 a.m. to 9 p.m., Eastern time.
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