I just found out from HR that I cannot increase my 401k contribution to 6% because I am at the max of 5% (?!?!?!?!).
I thought that the IRS allowed around $15k. Even with the employer match I am not even close to that amount.
Can employers set limits on contributions?
401k question
January 3rd, 2007 at 03:48 pm
January 3rd, 2007 at 03:57 pm 1167839862
I'm going to keep an eye on this entry to see if someone else would know. I'm curious about this as well.
January 3rd, 2007 at 03:59 pm 1167839984
January 3rd, 2007 at 07:14 pm 1167851664
Since I'm here, I don't believe it can be capped. Or, at least Uncle Sam doesn't. They'll just tax anything beyond the IRS limit.
January 3rd, 2007 at 08:40 pm 1167856842
January 3rd, 2007 at 08:59 pm 1167857982