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During 2020, Jill, age 39, participated in a Section 401(k) plan which provides for maximum employee contributions of 12 percent. Jill's salary was $80,000 for
During 2020, Jill, age 39, participated in a Section 401(k) plan which provides for maximum employee contributions of 12 percent. Jill's salary was $80,000 for the year. Jill elects to make the maximum contribution. What is Jill's maximum tax-deferred contribution to the plan for the year? 13. Jill. What is Jill's maximum tax-deferred contribution for the year? 6 points $9,600 -What would be Jill's maximum if her salary were $153,000? -What would be Jill's maximum if her salary were $168,000
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