Going Higher Construction sponsors a 401(k)-profit sharing plan. In the current year, Going Higher Construction contributed 25% of each employees' compensation to the profit-sharing plan. The ADP of the 401(k) plan for the NHC was 3.5%. If Kendra, age 57, earns $100,000 and is a 6% owner, what is the maximum amount that she may defer into the 401(k) plan for 2021? 

Answer rating: 100% (QA)

To determine the maximum amount that Kendra may defer into the 401k plan for 2021 we need to conside... View the full answer