Any pre-tax amount elected by an employee as a contribution to a § 401(k) plan that does not exceed the statutory limit is not includible in gross income in the year of deferral and is 100% vested.

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This statement is true. According to section 401(k) of the Internal Revenue Code, pre-tax contributions to a 401(k) plan are not included in gross income and are fully vested. However, there is a maximum contribution limit each year, which can change annually based on cost-of-living adjustments.

Any Pre-Tax Amount Elected by an Employee as a Contribution