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Greetings, Fast, and welcome.

Got a question about your comments --

<< Does the $10K max include contributions from both you and your employer or does the $10K max just include what you contribute?>>

The $10K is the absolute dollar maximum that comes out of your gross pay and does not include any money your employer may contribute to the 401k plan. The overall percentage limit of 25% means that some folks may not be able to reach the $10K.
As an example, someone who makes $30K would be limited to a maximum contribution of $7.5K as the salary reduction.


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