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What is charterers contribution clause?

Highly compensated employees & 401K.?

  • The 401K rule book has a clause for highly compensated employee and that there is a limit on the % of the salary they can defer to a 401K account and the said percentage is decided based on the average % contribution done across the organization by its other less compensated employees. Is this standard?. Why is my contribution limited based on the saving habits of someone earning less than me? What is the rationale behind this law?

  • Answer:

    Since when does Congress have to have a rationale when it comes to tax policy and legislation? It's the law. Deal with it.

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