medium · Certified Financial Planner Retirement
Mateo Alvarez, age 61, participates in his employer's 401(k) plan. His prior-year FICA wages were $168,000. For the 2026 tax year
What is the maximum total elective deferral Mateo can contribute to his plan?
- $35,750, and he may choose between pre-tax or Roth for the entire amount.
- $32,500, with the catch-up portion contributed on a pre-tax basis.
- $35,750, and the catch-up portion must be made as a Roth contribution.
- $24,500, as catch-up contributions are suspended for high earners in 2026.
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