$55\mathrm{.}1\%$ complete

Question

Jared, age $49,$ earns $$300,000$ per year and is a participant in his employer$$s $401($k$)$ plan. Ignoring the ADP Test requirements, what is the maximum amount that Jared can defer under the $401($k$)$ plan during $2025?$

A$.$$$23,500$

B$.$$$31,000$

C$.$$$70,000$

D$.$$$77,000$