in 2019, Joe, age 54, earns an annual salary of $120,000. He has an elective deferral of

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in 2019, Joe, age 54, earns an annual salary of $120,000. He has an elective deferral of $19,000 into his employer-sponsored section 401(k) plan. His company matches elective deferrals dollar for dollar of the first 3% of compensation deferred. What is the maximum additional amount the company can add to his plan without exceeding the annual additions limit.

Posted Date: May 13, 2024 03:21 AM

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in 2019, Joe, age 54, earns an annual salary of $120,000. He has an elective deferral of

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