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All of the following are true about 401(k) Cash or Deferred Arrangements (CODA) EXCEPT: Limited to $19,500 for 2020 per year, or $26,000 for 2020

All of the following are true about 401(k) Cash or Deferred Arrangements (CODA) EXCEPT:

Limited to $19,500 for 2020 per year, or $26,000 for 2020 for those age 50 and over

Most prevalent type of plan established today

Predominantly funded by employee deferral contributions

Require no testing when they are funded by the employee

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