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Why does my W-2 have retirement plan X’ed on box 13?
By Tom Dunn | November 19, 2007
Eddie H asked:
I just received my W-2 and I noticed an X on retirement plan on box 13. But I did not sign up for a retirement plan. And I did find something odd with the amount of money I was getting per check after taxes. Would I be able to reteive this money? I can’t afford to save a dime on a retirement plan right now.
Willie
I just received my W-2 and I noticed an X on retirement plan on box 13. But I did not sign up for a retirement plan. And I did find something odd with the amount of money I was getting per check after taxes. Would I be able to reteive this money? I can’t afford to save a dime on a retirement plan right now.
Willie
Topics: retirement planning |
November 20th, 2007 at 4:10 pm
Ask your payroll department. It’s possible that your company has a company-paid retirement plan, but those are getting pretty rare any more.
November 22nd, 2007 at 11:47 am
Box 13 can indicate a couple of different things:
Box 13 - may have a box checked that indicates whether you are a statutory employee, a participant of your employer’s retirement plan or received third party sick pay.
Are you a statutory employee. Read about it at the link below and see if it fits your job.
Or perhaps your employer has a retirement plan which you do not have to pay into. Check with your HR representative. One thing for sure, if you didn’t “pay in” you’re not going to be able to take anything out.
November 25th, 2007 at 8:29 pm
If you company has a qualifying retirement plan then they are required to mark the box whether or not you are paticipating.