Employees who are at least 50 years old at the end of the year are allowed to contribute more to their 401(k) accounts than employees who are not 50 years old by year-end.

Question

Quizplus · Accepted Answer

This is true. It is called the "catch-up contribution" and allows employees who are 50 years old or older to contribute an additional amount to their 401(k) accounts above the regular contribution limit.

Employees Who Are at Least 50 Years Old at the End