Absolutely! When you transfer or change investments there are two options... current and future contrubutions, or future contributions only. For most companies this can be done online on their website after logging into your account. If you do not have that option whoever you speak to should be able to do it for you... make sure you check your account the next day or two days if done after trade time-- to be sure there was no error, most companies allow you to correct errors if notified within a certain number of days.

It depends on your plan.

The most common answer to this question is yes. You can leave money that is already invested in the funds it is currently in and change only your future contributions, which applies only to new contributions from that point forward.

However, that is not a requirement. A plan may require you to have both current money and future elections in the same investments. This is more common with portfolios or lifestyle funds but can apply to any plan.

The only way to know the answer to your question for your particular plan is to ask your employer or your record keeper. Or, if you have access to a website to make transfers, check it out and see what it allows you to do.