0
401(k) Savings with Profit Sharing
A 401(k) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 401(k) are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, some employers provide matching contributions to your 401(k) account which can range from 0% to 100% of your contributions. The combined result is a retirement savings plan you can not afford to pass up.
What else can I help you with?
What does Merrill Lynch 401k contain?
Merrill Lynch 401k is an investment and savings plan with a profit and sharing contribution, a 401k feature and an ESOP component. Check out their website for further details.
Is an employer required to notify an employee of existence or eligibility of a 401k profit sharing plan?
Yes. If I offer a 401K, I must tell all qualified employees about it.
Can you ask a former employer how much an employee received in 401K matching or profit sharing or employer contribution?
a fatty
When should one get a 401k plan?
401k plans are part of a family retirement plans known as defined contribution.Other defined contribution plans include profit sharing plans,IRAS and simple IRAs.
What are the benefits for a independent contractor who chooses to start a Individual 401k?
An Individual 401k is a powerful saving tool for your retirement. It has benefits such as salary deferral deductions, ability to borrow against the assets, and profit sharing contributions.
What kind of savings account is 401k?
A 401k is a retirement savings account which has very strict rules and regulations concerning deposits and withdrawals.
What makes ING 401k's better than others?
Having a 401k with ING enables you to borrow money from ING using your 401k savings as collateral. You still recieve the other benefits of a 401k such as defered tax free savings.
How does profit sharing work?
formula of profit sharing bonus
I received my last stament in dec.31 2001. I'm curently woring and would like to veiw my 401k rofit sharing plan. How do I do that?
Your profit sharing plan statement has to come from your employer (after all, they are the ones with the profit information). You'll want to talk to your human resources office to see who to talk to in your company. If you need general information, you might find help at The Profit Sharing Council of America (http://www.psca.org/).
Can I roll over my IRA to my 401K?
yes a 401k can always be rolled into your IRAs and other savings you may have.
What is a 401k savings plan?
a 401k plan is an life time money dealing plan you should have after you quit your job
Who made profit sharing?
Nobody really made profit sharing. Profit sharing is an idea that blossomed because it was the most efficient way of moving forward.
