Elective Deferral Contributions after year-end

[Guest Thomas2006]

Employer switched record-keeper mid-year for its 401(k) plan. Employee either forgot to change election, or his change was lost. Employee did not defer max amount (also entitled to catch-up contribution because of his age). Employee wants to contribute the max amount for 2007 (he could have contributed an additional $12,000). Is there any way to do this now that we are in 2008? Thanks.

[Tom Poje]

if the individual is not self-employed or similar status, then there is NO way I know of you how to defer this late. shoot, if that was true everyone would do it. and just how is it going to show up on the W-2 for the year? now, if there was a valid election made then the emplyer might be on the hook for making it up but that is an EPCRS issue.

[david rigby]

Employer switched record-keeper mid-year for its 401(k) plan. Employee either forgot to change election, or his change was lost.

Are these two statements related?

[Kimberly S]

Approximately $1,000 per month was supposed to come from this person's paychecks and he or she didn't notice that it was not withheld? I think there is some contibutory negligence here, although I'm not sure that ERISA recognizes that concept.

[oriecat]

Employee either forgot to change election, or his change was lost.

Approximately $1,000 per month was supposed to come from this person's paychecks and he or she didn't notice that it was not withheld? I think there is some contibutory negligence here, although I'm not sure that ERISA recognizes that concept.

Wouldn't this negligence first depend upon whether the former or the latter of the first quote is true?