Does 401k contribution decrease social security benefit level.
Could you set me straight on this:
An individualís FSA, 401k, HSA, etc. all are pre tax correct?
That means that the amount you are taxed on per paycheck is less and taxes taken out at the end of the year is lower,
Which means that the amount you pay into social security is lower,
Which essentially lowers your benefit at retirement.??
Please tell me that Iím over-thinking this,