Qualified Retirement Plans Including Section 401(K) Plans (LO 5.4) During 2022, Jill, age 39, participated in a Section 401(k) plan which provides for maximum employee contributions of 12%. Jill's salary was $116,800 for the year. Jill elects to make the maximum contribution. What is Jill's maximum tax-deferred contribution to the plan for the year? x Feedback V Check My Work One of the more popular qualified retirement plans is the Section 401(k) plan. This plan permit payment of compensation in cash or to defer the amount through an employer contribution on stock bonus plan. Such a plan maybe structured as a salary reduction agreement. In all 401 (k