Hi,
My employer has a policy that the 401K contribution can be started only after 90 days. I joined on 8/27/2018 and I wanted to maximize my 2018 contribution so I setup 100% deduction in November in preparation of my eligibility starting December 2018 paycheck.
The payroll could not process this election since it got confused with 100% and could not accurately calculate taxes etc. After multiple back and forth with plan and the payroll, the issue finally got resolved only in mid Jan 2019.
Based on this IRS article, it looks like I may be eligible for the fix by the employer and should receive 50% of my missed deferral amount. Is that accurate understanding?
Thanks, Dhaval
