Tag: 401k

Your 401k audit requires the work of multiple key players with different roles and responsibilities. It’s a team effort to ensure your benefit plan audit is seamless, timely, and accurate. Let’s outline the service providers and how you will work with them for your next 401k audit. Cu...

Gold is a valuable commodity that has been used as currency for centuries. It is also seen as a safe investment, since its value usually remains stable or increases during times of economic instability. If you’re thinking of moving your 401k to gold, there are a few things you sho...

That’s right, it’s a retirement account. If you’re in your 20’s or 30’s, the word “retirement” seems so farfetched. You’re probably wondering what the point is of putting your hard-earned money into an account that you’re told you...

Whether you’re just entering the workforce or have worked for decades everyone at some point needs to think about saving for retirement. Where do you start though? There are a lot of questions concerning retirement. What is a 401k, who can open a 401k, and is it right for me? In this article, ...

Most people are familiar with the basic premise that when you’re 59 ½ or older, you are able to take withdrawals from your 401(k) penalty free. If you take a distribution from a traditional 401(k), you will owe federal income tax. The institute is required to withhold 20%. ...

I explore the process of doing a rollover of a 401(k) to an IRA at Fidelity Investments for the first time. UPDATE: Added in details on whether you are rolling over pre-tax funds or Roth funds. I’ve been taking a new look at Fidelity Investments recently, as a place to host my r...

When you leave an employer with a 401(k) you may be allowed to keep the plan as it is. The choice usually depends on whether there is enough money in the 401k. For most plans, it’s $5,000. If you do have enough money this may be an easy option to choose. In this case, you won’t be req...

The 401(k) plan is a retirement savings plan in the United States. It was introduced by the Employee Retirement Income Security Act of 1974 (ERISA). A 401(k) plan is an employer-sponsored retirement plan that allows employees to save for retirement on a tax-deferred basis. The plans are named after ...