If I'm not mistaken, the government set a maximum contribution allowed into a 401K at 25%. If that is correct, why do many employers (like mine) only allow a 15% contribution. I've asked that question to our plan administrator and they say it is a safety factor so contributors don't go over 25% and get penalized. (besides, they say, it is a hassle to refund money to the contributors if over 25% is contributed. sounds like a lousy reason to me!) The difference between 15% and 25% should allow me to retire a little earlier, but because of a safety factor they won't let me do it. Is there anything I can do to increase the amount? Is there a form letter similar to http://www.fool.com/money/401k/401kLetter.htm that I can send?
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