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What is the meaning of a thrift savings plan?
A plan which is more economical and reduce splurging your money, a plan which require less investment of funds. Was that information useful, please let me know.
Do military personnel contribute to military retirement?
It works like an old-style pension, rather than a 401k. There's no explicit contributing to it. It's just part of the compensation that if you serve >=20 years and retire, you get retirement pay (which is a percentage of your last active-duty pay). Members of the military do have the option to contribute to a Federal Thrift Savings Plan, which is just an Individual Retirement Account but with a higher yearly contribution limit (as with an IRA at a bank, contributions aren't taxed until withdrawal). This is unrelated to military retirement pay though; all federal employees can set up a Thrift Savings Plan.
What does the Federal Employees Retirement System provide?
The Federal Employees Retirement System provides retirement for government civilian employees. It has it's own system like a 401k plan, Social Security participation, as well as annuity investment.
Does Obama have a 401k plan?
The president, and all members of congress, have their own health plan. It is called the Federal Employees Health Benefits Program. It is paid for by the government, and has been available to federal employees since 1960.
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.
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.
How do you get a 401k?
A 401k Plan generally is offered to employees by their employer. If you are self-employed, you may start a 401k or other retirement plan.
How do you qualify for a federal government pension?
For the most part, a person must work for at least 20 years for the federal government to draw a pension or retirement. Employees also contribute to a 401k type investments.
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 Should Switch from a 401K to a Roth IRA?
Many employees contribute to a 401K plan in an effort to save for retirement. However, converting those 401K savings into a Roth IRA can add up to major savings in the long run. Roth IRA's allow you to take your money out tax-free after you reach a certain age so if you believe that your income tax bracket will be higher after retirement, converting now may be the best way for you to save for your retirement years.
What happens to 401k savings after bankruptcy?
Nothing they are exempt form seizure.
