By For Publisher on August 19, 2011
If your company offers a 401K retirement plan, you have the option to select the funds you desire to invest. Your choice must be from a list of funds provided in the 401K plan. Each employee can contribute up to a certain percentage of their pay, which is deducted directly from the salary before taxes [...]
Posted in Just Me | Tagged 401k, for, Need, Plans, retirement, the, understanding
By For Publisher on May 14, 2011
According to a Minnesota TV station, a Wells Fargo 401(k) plan operations manager has been accused of robbing 401k plan accounts.
The 401k Operations Manager, who oversaw the 401k daily fund operations, allegedly disbursed money from dormant 401k accounts to fictitious names he created. He then had the checks sent to his own office and deposited [...]
Posted in Just Me | Tagged 401k, fargo, missing, Plans, robbed, thousands, wells
By For Publisher on July 7, 2010
What exactly are 401k plans? A 401k plan is a type of an employer sponsored retirement plan for the employees of the organization. The plans are generally grouped into 2 main categories: defined benefit and defined contribution plans. In the case of the defined benefit plan, the employer promises to pay the retired employee [...]
Posted in Just Me | Tagged 401k, and, Benefits, Plans, their
By For Publisher on June 27, 2010
The IRS issued the February 14, 2006 Quality Assurance Bulletin (“QAB”) dealing with 401k plan exclusions of part-time, temporary, and seasonal (A.K.A. “part-time”) employees. T
This QAB revolutionizes the way IRS document examiners will look at 401k plan eligibility clauses and warns that inadequately drafted provisions dealing with part-time employees may be disqualifying, regardless of any [...]
Posted in Just Me | Tagged 401k, and, attacks, determination, employee, exclusions, irs, is, letter, parttime, useless, your
By For Publisher on June 27, 2010
January 1, 2006, a new opportunity for retirement savings came to town. Known as the post tax ROTH 401k – this is the classier sister to the traditional 401k plan. In one corner is the post tax Roth 401k, with a fuller bodied contribution as taxes are included on the front end. There’s also a [...]
Posted in Just Me | Tagged 401k, a, for, parlay, privileged, roth, the