What to Do if Your Employer Won't Allow You to 'Catch Up'
Wall Street Journal Online (08/07/03) p.50; Cullen, Terri

This article points out that new Internal Revenue Service rules permitting people over age 50 to make catch-up contributions to their 401(k) plans are optional and may not be offered by all employers. A recent CIGNA Retirement and Investment Services study points out that while 47 percent of workers believed they were making the highest possible contributions to their 401(k) plans, only 11 percent actually were, and this article suggests that employees seeking to make the best of their employer-sponsored retirement plans make sure they are already making the highest possible contributions to their plans before demanding that their employer allow them to make catch-up contributions.


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