Have a Tax Question? Ask a Tax Expert
Generally, contributions to your 401(k) plan will show up in box 12 of your W-2 form, with the letter code D.
These amounts are deducted form wages which are reported in Box 1 of your W2 for income tax. That is why they are called "pre-taxed". They are not used to reduce boxes 3 and 5 for SS and Medicare tax.
If you can increase your 401k contributions then that strategy would reduce your wages shown for income tax in Box 1.
The limit on employee elective deferrals (for traditional and safe harbor plans) is:
If they are using your W2 then it is important to know if they use the Income Taxable Wages or the Total wages.
The 401k will just reduce your Income Tax wages not your Gross pay. Gross pay represents the total amount paid by a company to its employees. Gross pay does not take into account any pretax deductions or other exemptions from income.
CT law for calculation would determine that. The calculation of the original decree would state what income is used.
I will check on CT specific calculations.
It appears that in CT the income available to a spouse has to do with net income, not gross income or earnings.
But optional deductions, such as profit sharing plans, IRAs, stock purchases and credit union deposits are not proper reductions from earnings for determination of financial orders.
Connecticut’s alimony statute [C.G.S. § 46b-82]
Based on this your 401k increase does not seem to be an area that would assist you for this specific situation.