If you’re an employee, chances are you already know what a 401k plan is, but few of us actually completely understand what it is.
The principal idea of a 401k plan is to help employees save assets for retirement.
When you open up a 401k account a percentage of your paycheck is automatically deducted on each pay [...]
2010 Contribution Limits
The 401(k) contribution limit for is $16,500 for those under 50 years old. For anyone between the ages of 50 and 59 ½ years old you also have the option of contributing an additional $5,500 as a catch-up contribution.The IRA contribution limit for is $5,000 for those under 50 years old, with a $1,000 catch-up contribution option for those between 50 and 59 ½ years old.
About This Site
This site is intended to provide general information about options for 401k rollover and IRA retirement plans. Nothing on this site should be considered legal, financial or other advice of any kind. If you're looking for professional advice, you should consult with an independent financial adviser.Additional Resources
{ 6 comments }