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companies with highest 401k match
401k
September 27, 2023
35 Companies With The Highest 401k Employer Match In 2023

The top companies in the world offer generous 401k employer matches in order to attract top talent and to encourage their employees to participate in their 401k plan. ‍What is 401k employer matching? An employer match is an additional contribution made by an employer towards an employee’s 401k plan. Many employees consider it as free […]

rollover 401k to solo 401k
Solo 401k +1 401k
September 27, 2023
How To Rollover A 401k Plan To A Solo 401k

Rollovers of a 401k are typically done when an employee is no longer departs from an employer. If you’re eligible for a solo 401k, rolling over a 401k into a solo 401k could give you some immediate benefits and tax-advantages that your old company 401k never had. It comes with a wider range of investment options […]

Solo 401k +2 401k Retirement
September 25, 2023
Is a 401k or Solo 401k a Profit Sharing Plan?

Also known as a deferred profit-sharing plan (DPSP), a profit-sharing plan is a retirement plan that gives employees a share in the profits of the company on a quarterly or annual basis. Contributions to a profit-sharing plan are tied to a company’s profits, rather than an employee’s contribution. Employees receive a percentage of the company […]

rmd table
Retirement +2 401k IRA
August 16, 2023
IRA And 401k RMD Table For 2023

To calculate your 2022 and 2023 required minimum distributions for your IRA or 401k, use the RMD table below and follow the steps. How to calculate your RMD Example Let’s say that in 2023, you turned 75 years old. And on December 31, 2021, your 401k account balance was $200,000. Based on the RMD chart […]

401k eligibility
401k
August 09, 2023
401k Age Requirements & Other Eligibility Rules

OVERVIEW Companies aren’t legally obligated to offer a 401k plan to their employees. However, companies that do offer a 401k plan are legally obligated to fairly offer them to any employee who is at least 21 years of age and has provided at least one year of service at the company. A frequently asked question […]

401k +2 IRA Solo 401k
August 04, 2023
Can I Contribute to an IRA if I Have a 401k or Solo 401k Plan?

You’re allowed to contribute to both an employer-sponsored retirement (like a 401k or solo 401k plan) and an IRA (both Roth and traditional) in the same tax year. However, there are some instances where your IRA contributions can get restricted or lose the ability to receive a tax deduction. Are you eligible for a solo […]

average 401k match
401k
August 03, 2023
What Is The Average 401k Employer Match For 2023?

OVERVIEW If your company provides a 401k plan, there’s a high chance that they also offer employer matching. A study by the Plan Sponsor Council of America showed that 98% of companies that offer a 401k also provide employer matching for their employees. In employer matched 401k plans, employers will contribute to an employee’s 401k, up […]

401k loans
401k
July 26, 2023
401k Loans: How It Works, Limits, And Repayment Rules

Early withdrawals made from a 401k plan are subject to a 10% penalty plus income taxes on the amount drawn. If your plan provider enables loans as an option for participants, a 401k loan could be the better alternative to an early withdrawal if you’re in urgent need of emergency funds. What is a 401k loan? A […]

401k
June 29, 2023
401k Hardship Withdrawal vs 401k Loan: Which One Is Better?

A 401k is typically one of the last places you want to withdraw money because they’re so tax-advantaged. You’re depleting money from an account that offers you tax-free compounding, deferred until retirement (or completely tax-free with a Roth 401k).  When you take money out early (before the age of 59½) it’s regarded as a nonqualified […]

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