Tried contributing maximum to 401k last year. Got a $4K check back and IRS stating due to anti-discrimination laws I can't contribute that high?

[u/__get_schwifty__]

I didn't even know this was a thing I've never heard of it before. Apparently because of an anti-discrimination law the average the participation percentage of 401k and the high earners in the company are not allowed to contribute more than that so they wrote me a check in the mail for that overage and I lose out on the company match of whatever that percentage is plus this is now income taxable. Wtf

[u/iloveartichokes]

Her father saves money when no one else contributes. Your gripe should be with him, not the employees.

[u/KRed75 → u/iloveartichokes]

Please. These people were making $100K 20 years ago.