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If I participate in the 401(k) Plan, what is the total salary per week that may be used to calculate contributions?

April 26, 2017CALCULATE contributions k participate Plan salary total Used week

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If I participate in the 401(k) Plan, what is the total salary per week that may be used to calculate contributions?

1 Answer

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The 401(k) plan has a weekly limit of $7,500.00. Therefore, if a member is making above this amount on a weekly basis, it is to be reduced to $7,500.00 in order to make employer and deferral contributions to the Plan. Anything paid about this limit will be refunded, upon request, to the employer.