My question is that I will be maxing out my 401 for the year and have already contributed to my IRA. What happens to my 16% I have deducted for my 401 after It's been maxed out?

Could you flesh this out a little for us? I'm not sure what the question is. You are allowed to contribute the maximum to your 401(k) and $2,000 to your IRA in one year.

If you're talking about exceeding the limit of your allowable 401(k) contributions, you need to get the excess back from the plan (and stop making more contributions). If you're asking what happens to that portion of your paycheck that was previously going to 401(k) contributions, it will be in your paycheck.

If I didn't stumble upon the answer, please clarify the question.

TMF ExRO
Phil Marti