Scenario: I was unemployed from January through July 2021. I started new job at the end of July 2021. Employer allows me to join 401k plan after 90 days, which means I’m enrolled starting November 1, 2021. On a 40 hour week, paid hourly, assuming no vacations taken/holidays taken (as they are unpaid), my income would max out at around the $100k mark. I am paid weekly on Fridays.
From the above, there are 4 Fridays in November and 5 Fridays in December. Max gross pay, disregarding all the unpaid holidays, tops out at just shy of 17k.
I’m not entirely sure what the dollar amount would be if I decided to contribute the remainder of all my paychecks to the 401k plan, but regardless, my theoretical maximums would be below the $19,500 deduction limit. Would I be able to contribute other money I have (savings, etc) to hit the maximum?