Realize Your Potential: H&R BLOCK Question 5 of 75. A Section 401(k) compensation plan allows employees to contribute As long as their employer makes a matching or nonelective contribution. A portion of their wages to an individual account under the plan. O Up to 25% of their pay. To the plan only if they are highly compensated employees. Mark for follow up Question 6 of 75. Generally, excess net operating loss (NOL) from the 2019 tax year will be O Carried back two tax years. Only allowed in the present tax year. Carried forward 20 years. Carried forward indefinitely. Mark for follow up