Yes… Since contribution rates can be adjusted at any time, an individual could choose to set the maximum contribution rate (92%) at any point throughout the year. This will result in a lump sum contribution in a specific pay period. Once this contribution has been processed, the investor can then change their contribution rate to zero percent for the remainder of the year.
That being said, it is preferable for contributions to occur on a regular basis (each pay period) so as to benefit from a practice called “dollar-cost averaging.” As market prices move up and down over the course of your investment timeline, periodic contributions will typically result in less volatile returns, over the long-run, than lump-sum annual contributions.