There are changes coming for 401K plans because of recent federal tax law changes. One involves the catch-up contribution allowed for employees in pre-retirement. But the statistics are that less than 10% of eligible employees contribute anything to the catch-up portion of a 401K.
I maxed everything I could in my 401K.
Ii n 2023 I believe I will be considered an HCE and can only contribute 7% to the regular portion of my 401K.
I maxed everything I could in my 401K.
Ii n 2023 I believe I will be considered an HCE and can only contribute 7% to the regular portion of my 401K.