Question: 3 Multiple Choice 1 point Tonya, age 5 2 , is a highly compensated employee who earns $ 3 7 5 , 0 0 0

3
Multiple Choice
1 point
Tonya, age 52, is a highly compensated employee who earns $375,000 per year and is a participant in her employer's 401(k). Her employer also made a 20% profit-sharing plan contribution during the year. Ignoring the ADP test requirements, what is the maximum amount that Tonya can defer under the 401(k) during 2025?
$0.
$7,500.
$23,500.
$31,000.
Clear my selection
3 Multiple Choice 1 point Tonya, age 5 2 , is a

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!