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What does the k in 401 k stand for?
401k is a section of the US Tax Code which describes a particular retirement plan. Section 401a describes a different plan. The letter is a subsection of chapter 401 of the Tax Code.
What is the 401k maximum contribution for 2011?
16500 Looks like the IRS just released the 401k max contributions for next year. Unfortunately they're staying the same at $16,500. Inflation is to blame, or rather lack thereof. Which is too bad for all us prodigious savers!
What is the total value of all 401K's in the US?
Based upon an assumption of 80million workers have them and the average value is around $87,000 the total would be $6.96 Trillion.
What types of retirement plans 401ks or IRAs might be best for retirement?
The right answer is, It Depends. I like a ROTH IRA. Here we pay tax on our contributons. Qualified distributions from a ROTH IRA are tax free. The ROTH IRA also allows us to take our Annual Contributions out of the IRA at any time without tax or without penalty for any reason, even to make a trip to Vegas and put it all on red. A Traditional IRA is OK too. Here we do not pay tax on our annual contributions giving us a tax advantage now. All distributions from a Traditional IRA are subject to income tax, and if taken before age 59.5 years, there is a 10% penalty. There are a few items that qualify for avoiding the 10% penalty. Everyone can contribute to a Traditional. Not everyone can take the tax deduction. This is called an after tax Traditional IRA. The earnings are tax deferred. When you take a distribution from this IRA part of the distribution is subject to income tax and part of the distribution is tax free. These amounts are based on the ratio of your after tax contributions to the total amount of the IRA. Both IRAs will provide you with more investment choices when you use a discount broker as the IRA custodian. IRAs typically are afforded $1,000,000 of bankruptcy protection. This may vary from state to state. The 401k contribution is taken from our pay each pay day. Some employer's offer a matching contribution. The Traditional 401k is not taxed when we contribute. It is taxed when we take a qualified distribution. Investment choices are usually limited to a set of mutual funds and savings accounts. Some 401k plans offer a loan feature. I do not recommend you ever take a loan from your 401k account. Some employers offer a ROTH 401k. Your contributions are taxed as you make the contribution. When you take the qualified distribution from the plan your money comes out tax free. When the employer makes a matching contribution to this IRA, it is a tax deferred contribution. You will pay ordinary income taxes on distributions of the employer's contribution. When you start contributing to a 401k plan, READ the Summary Plan Description. You will be given a copy, read it. The big advantage of a 401k plan is for 2008 you can contribute up to $15,500. And if you are over age 50, you can contribute an additional $5,000. This "Catch-up" contribution can be made even if your 401k limits you to an amount lower than the $15,500. Which is better? It Depends.
Define the 700 billion US bailout plan?
Much of it is still evolving. Suggest you review wikipedia under bailout plan.
What percentage of employers offer 401k retirement plans in the US?
47 percent of employers offer a 401k retirement plan in the US. some employers think that it should not be required......................................................................
What does the k in 401 k stand for?
401k is a section of the US Tax Code which describes a particular retirement plan. Section 401a describes a different plan. The letter is a subsection of chapter 401 of the Tax Code.
Who can enroll into a 401K plan?
People who can get the qualifications for 403b plans are employees of tax-exempt organizations established under section 501(c)(3), also employees of public school systems who are involved in the day-to-day operations of a school, and employees of cooperative hospital service organizations.
Does Toys R Us have a 401k?
yes
What was the plan used by the US to rebuild postwar Europe using large amounts of foreign aid?
marshall plan
The first plan of government used by the US was under what?
The articles of federation. -E
What companies in the US offer the 801k plans It is a plan that companies are offering that's better than the standard plan 401k.?
I'm not aware of any specific companies offering an "801k" plan in the US. It's possible that you may be referring to a different type of retirement plan or a specific offering by certain companies. It's recommended to consult with a financial advisor or HR representative for more information on retirement plans that may be available.
What did Phoebe mean when she said four oh wunk in Friends episode 21 season 9?
She meant to say 401K (a retirement package).
Do presidents of US get 401K?
They could set one up, I think. The federal government would not match their contributions.
What is gost plan?
gost plan is to kill us
What is the written plan of government called in the US?
The plan is the US Constitution, which defines the government and its powers.
What god plan for us in heaven?
What did God plan for us in heaven?* Eternal life is what He planned for us [the godly people].
