Is it standard for highly compensated employees not to be able to do more than 19% to 401K?
I do not currently fall into the "highly compensated employee" definition, but when looking at contribution rules at my current employer, it seems they cap your 401k contribution at 19% per pay cycle if you do fall in that category.
I mean... that kind of sucks. It's nice to be able to bump things up to 30% or 35% during market pullbacks being a lowly normal employee, to "buy the dip" and then put it back to 22% the rest of the year, and budget out your contributions in Google Drive so you can plan... having a limit of 19% would mean you have no opportunities to buy dips in the market and are just stuck with a set amount every pay period if you want to hit the max for the year.
Why is this a thing? I asked Grok and it told me that it's because some non-discrimination stuff, but in all honesty if you get fired for talking about your pay in the first place why does this matter at all? Isn't it your responsibility to not bring money up in the workplace, not your employers?