The Social Security Leveling Option is a pension plan payout option offered by pension plans to level out the income of someone who retires early. The leveling applies to the amount of pension payments and not to the amount of Social Security you will receive.
Typically, a pension will offer several different pension payout options, and possibly a single lump-sum payout option or leveling options. This is as opposed to an annuity, or stream of cash in retirement.
The 401K Max Contribution Limit for 2018 has now been set, with an increase of $500 over 2017 $18,500. The Maximum 401K contribution Limit for 2016 and 2017 was $18,000 both years.