Dear Liz: I recently changed jobs. Typically I max out my 401(k) contributions each year. I contributed $20,700 to my previous company’s plan before quitting. Eligibility for my new company’s 401(k) doesn’t kick in until after 12 months of continuous employment, so I won’t be able to access this benefit until 2023. Can I set up…
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This article will discuss the basics of a 401k plan and how to enroll employees year-round. We’ll also cover setting up a trust for the project, payroll integration, and an employer match. The following section will cover some common questions related to 401ks. Enrolling employees year-round in a 401k plan Enrolling employees in a 401k…
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It’s essential that all Americans have access to some kind of retirement savings account. It’s something the government and IRS need to always support because Social Security distributions are not intended to be the total extent of one’s retirement income. For individuals employed by mid and large-size companies, investing for retirement is usually available to…
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As a business owner, you must operate your 401(k) plan according to the terms of a written plan document. Most plans use an IRS preapproved document for this purpose. All preapproved documents must be fully rewritten (or restated) every six years to reflect recent law changes. The last 6-year restatement cycle was called “PPA” after…
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WCI is ten years old this Spring and we’re now on our third 401(k). It’s been a long and winding road. Our first 401(k) was a simple, cookie-cutter Vanguard Individual 401(k). And when I say “our”, I mean “my”, since I was the only one working here and the only one contributing to it. It…
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A 401K is a retirement plan offered by employers to their employees. Employee contributions fund a 401K. Contributions are tax-free and come directly out of the employee’s paycheck. 401K plan features vary widely across employers. This means a range of fees, investment offerings, employer match, vesting periods, and more. In this article, we’ll explore the…
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October 6, 2014 Jim (a regular reader of LifeAndMyFinances) and his wife (Mrs. Jim) absolutely hate their home mortgage. If they had the cash to pay off their bank right now, they would absolutely do it without hesitation. Unfortunately, they do not have $47,000 in cash to do this right now (no big surprise here…
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Rolling over your 401k retirement account into a precious metals IRA may be one way to improve your investment portfolio. The performance of most 401k plans is usually heavily dependent on stock market performance, as investments are typically limited to mutual funds. With the stock market down significantly and with continuing economic uncertainty likely, gold…
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Home Blog Investing Rollover 401k To Gold IRA (Definitive Guide) We are reader-supported. If you buy through links on our site, we may earn a small commission. Learn more. Are you interested in using physical gold to fund your retirement and looking for a rollover 401k to gold IRA guide? Then you’re in the right…
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When it comes to company-sponsored retirement plans, 401(k)s are likely the most common offering. While pensions were once fairly widely used, that isn’t the case any longer. For some professionals, this is incredibly frustrating. Pensions – also called defined benefit plans – come with a level of stability and predictability that you don’t always find…
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