I started midway through this year and the person before me had the 401k stop deducting employee deferrals at the point of $18,000. However, the limit this year is actually $18,500 (and $19,000 for 2019).
Since I did not set up this for the current year and have not done it before ever, my questions are twofold. First, how do I change the limit so employees at $18,000 still get deferrals on their last paycheck so they are not stuck at the $18k limit? Second, how do I update it for 2019 so it will allow $19k in employee deferrals? Thanks for ANY suggestions. Thanks!