A 403(b) plan is actually quite similar to the more well-known 401(k). This retirement account was designed for specific types of employees. You may be able to acquire a 403(b) plan if you are a professor, school administrator, teacher, doctor, nurse, librarian, employee of a tax-exe...
For qualifying employee deferral contributions to take effect, a solo 401(k) plan must be established by Dec. 31 with the funds deposited by the end of the tax year. Employer profit-sharing contributions are usually extended until tax-filing deadlines. Is a solo 401k worth it? The flexibility...
401k: What’s the difference? Retirement By Logan Jacoby 4 min read What is a solo 401(k)? A great self-employed retirement option Retirement By James Royal, Ph.D. 7 min read 403(b) vs. 401(k): What’s the difference in these retirement accounts? Retirement By James ...
What is the difference between a traditional and Roth 401(k) plan? There are two common kinds of 401(k) plans: traditional and Roth. These plans have some similarities: They are subject to the same annual contribution limit and may offer the same investment options. However, traditional and...
HR ServicesBenefit Options401k Retirement Plans 401(k) Retirement Plans Help keep your valuable talent with a simple and flexible 401(k) plan. What is a 401(k) plan? A 401(k) is an employer-sponsored retirement savings plan. It allows employees to contribute on a tax-deferred or after-ta...
Depending on your industry, you may be able to contribute to a similar retirement plan, like a 403(b) or 457(b), instead of a 401(k). Self-employed people can open a type of 401(k) on their own called a self-employed 401(k), and anyone who earns an income (or who is ...
A self-employed 401(k) plan — also called a one-participant 401(k), individual 401(k) or solo 401(k) — is a type of retirement account for business owners with no other employees. They're designed only for use by a self-employed professional and, if applicable, their spouse. ...
Napkin Finance is a quick and easy way to learn what is 401k, 401k Loan, Retirement, IRA vs. 401K, and Traditional IRA without dying of boredom.
A solo 401(k) allows self-employed people to save more for retirement. Find out if this tax-advantaged retirement account is right for you.
“Your 401(k) plan documentation is the best source to find out what qualifies for a hardship under your plan’s rules.” Arielle O’Shea, investing and retirement specialist Be sure to do your research to understand if a law or policy change will make it more or less advantageous to ...