How to Change Your 401(k) Contributions
- 1). Review your most recent 401k statement and look for a toll-free telephone number or website address. Depending on your 401k, you might be able to make your changes online or over the telephone.
- 2). Contact the human resources department at your employer if you do not have online or telephone access to your 401k account or are not permitted to change your contribution percentage online or over the telephone. Your human resources representative can give you the paperwork you need to change the amount you contribute to the 401k plan.
- 3). Complete the form to change your 401k contribution percentage, either online or using the hard copy given to you by your human resources department. Submit the form according to the instructions on the document. Keep a copy for your records and verify that your instructions have been carried out. It can take a few pay cycles for the change to go through, so give it about a month before you follow up.
- 4). Check your pay stub carefully to see the impact of your increased or decreased 401k contributions. Contact your human resources department or the administrator of your plan if you need to make any additional changes.
