I have a question.... Is it normal for a 401k plan to cap percentage amount allowed? I thought the cap was 15% (IRS limitation), but my company caps at 10%. They do match, but they've capped their match at a specific dollar amount, so I fail to see what the benefit is, either to the company or the employee to limit what we're allowed to contribute (Outside of the standard IRS limitations). Does anyone know anything about this? Incidentally, we used to be allowed up to 15%, but went through a merger and now the roof is 10%. My only hope of retiring the way I want to, when I want to, depends on my being able to max the heck out of my plan. I may have to do a Roth too.Thoughts?
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