Zenefits Payroll monitors the IRS mandated 401(k) contribution limits for your workforce, but what if you have a new hire who contributed to a 401(k) at a previous job? You can now add a worker’s previous 401(k) contributions, so that Zenefits can still monitor their limits.
If you received an email from Zenefits about reaching your 401(k) limit, no action is required from you. This is just a heads up that you've reached your contribution limit and why your paycheck amounts may vary in the future.
Limits are set on an annual basis, so you can begin contributing again when the new year starts.
Are you over 50 and feel you should be able to do catch-up contributions? Chat with your company's HR personnel.