In 2015, a 52-year-old participant in a 401(k) plan may contribute a maximum of:

Question

Quizplus · Accepted Answer

The maximum contribution for individuals over age 50 in 2015 is $24,000. While options A and B are possible contribution limits for younger participants, the higher limit for those over 50 is the correct answer. Option D is incorrect as it represents the maximum contribution if both the employee and employer were contributing to the plan.

In 2015, a 52-Year-Old Participant in a 401(k) Plan May