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...
There is a five-part methodology that should be considered for terminating a 401(k) plan, including: Phase 1: Planning & Preparation Phase 2: Announcement & Notification Phase 3: Locate Missing Participants Phase 4: Distribute All Plan Assets Phase 5: Final Plan Termination...
A traditional 401(k) plan is sometimes referred to as a pre-tax 401(k) plan. You contribute to the plan with before-tax dollars. Because you don’t pay taxes on the money you put into the plan, you must pay taxes (both federal and most state income taxes) when you withdraw it. ...
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. With...
A 401(k) is a retirement savings plan that lets you invest a portion of each paycheck before taxes are deducted depending on the type of contributions made. Because of 401(k) tax advantages, the federal government imposes some restrictions about when you can withdraw your 401(k) contributions...
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.
If your 401(k) is managed, you may go through this process directly with your company’s financial adviser or bank. 401(k) plans in a nutshell A 401(k) plan can be a great retirement planning tool because of its financial and tax benefits. Having a 401(k) can give you more options...
A rollover of retirement plan assets to an IRA is not your only option. Carefully consider all of your available options which may include but not be limited to keeping your assets in your former employer's plan; rolling over assets to a new employer's plan; or taking a cash distribution...
A Summary Plan Description Agreement (SPD) should be prepared and submitted, which should be professionally percolated to the human resources at your workplace. The SPD contains information about when and under what circumstances you can withdraw from your 401(k) hardship withdrawal account, also us...
A 401(k) plan is atax-advantagedretirement savings plan. What Is a 401(k) Plan? Named after a section of the U.S. Internal Revenue Code, the 401(k) is adefined-contribution planprovided by an employer.1The employer may match employee contributions; with some plans, the match is mandat...