401k Plan

What is a 401k plan?

A 401k plan is an employer-sponsored qualified retirement program that allows you to save for your retirement by contributing to a retirement account in your employer's plan on a tax-deferred basis.

The term " 401k " refers to the section of the Internal Revenue Code (IRC) that allows participants to make pretax salary deferral contributions into a qualified retirement plan that offers special tax advantages to participants.

When can I join my Employer retirement plan or 401k plan?

You may join your employer retirement plan or employer's 401k plan when you satisfy the plan's eligibility requirements.

Under the Internal Revenue Code (IRC), typically you become eligible

• at or after age 21 and
• after you have completed one year of employment, though your employer may adapt more liberal rules.

When can I change or stop my 401k contributions?

All 401k plans permit you to stop contributions at anytime.

Changing your 401k contributions rate is allowed, but the employer's 401k plan may limit the number of changes to monthly, quarterly or annually.

(The effective date of any change is based on the plan's specific rules.)

• 401k contribution limits
• 401k Investments 
• 401k Rollover
• 401k Loan and 401k Loan Repayment
• 401k 2006 Limits
• 401k Com Retirement Plan
• 401 k IRA Rollover
• 401k Self Directed IRA Rollover
• 401k Loan Rules