401(k) News and Investing July 2023
If you are not on a path to maxing out your plan contribution this year, there still is time in the second half of the year to contribute the maximum allowed by year-end. See your human resources person to adjust your payroll contribution to the maximum amount. 401(k) contributions allow an employee to contribute a portion of their wages to their individual C. Mack Solutions 401 (k) plan account. Contributing to your 401(k) account lowers your taxable income and thereby taxes! Elective salary deferrals are deducted from your paycheck before taxes (except for designated Roth deferrals) and conveniently deposited into your C. Mack Solutions 401(k) plan account.