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Originally Posted by astromeria
My last company allowed employees to put in 60%. This was incredibly handy for me in my retirement year (2005), when I worked part time for only part of the year. I was still able to max out my 401k--thanks also to being able to take 401k contributions from my final payment for unused vacation days.
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I forgot - my company has a 60% limit too. Although it doesn't affect any of our employees much, since we all make enough such that we hit the $15000 limit before hitting the 60% limit. The problem would be if you tried to contribute more than 60% in the last few months of the year to "catch up" and get the whole $15000 contributed by year-end.
Good news for us - the company VP told us yesterday they are bumping our 401k matching percentage up from 4% to 6%.
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