There are two components to a solo 401(k) plan: employee elective-deferral contributions and profit-sharing contributions. A solo 401(k) may also offer loans, doesn’t require nondiscrimination ...

Whether a plan participant can make a lump-sum contribution to their 401(k ... deferral contributions are based on a percentage of salary,” she says. For example, the salary deferral election ...

Inform your plan administration that you’ve made an “excess deferral” by adding too much to your 401(k). “Your employer ... is completing an amended W-2 form from your employer ...

Review your investment options and 401(k) deferral rate at least annually to make sure you're comfortable with them. Investor Alert: Our 10 best stocks to buy right now › For many of today's ...

Typically, it takes a couple of paychecks for 401(k) deferral changes to go into effect, according to Boston-area certified financial planner Catherine Valega, founder of Green Bee Advisory.

Starting in 2025, you can boost your 401(k) plan with higher deferral limits and catch-up contributions for some older workers. Many plans also have a "true-up" feature, which allows workers to ...

Read 401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000. The elective deferral limit for 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan will ...