1. 401k Retirement Plan, Advantages and Benefits By Financial Advisor California Dear 401K J

2. What Is A 401 (K) Retirement Plan?

3. 401 (k) Is A Retirement Saving Plan Sponsored By An Employer.

4. Advantages And Benefits Of a 401 (k) Plan

5. 401 (k) Is A Retirement Saving Plan That Has Many Advantages. But It Also Has Some Restrictions

6. 401k Plan Is Good To Go For All Types Of Businesses Including:

7. C CORPORATIONS CORPORATION

8. PARTNERSIPSELF EMPLOYED

9. SOLE PTOPRIETORSHIP

10. Within Certain Guidelines, An Employer Is Responsible For Setting Up The Eligibility Requirements.

11. An Employer Has The Power To Restrict 401k Plan For Employees Such As: > Less Than One Year Service > Union Members > Non US Citizens > Part-Time Workers > ETC.

12. A 401k Contributions Can Come From Both Employee And/or Employer Voluntary Salary Reduction.

14. Additional “Catch-Up” Contributions Of $5,500 Is Allowed For 401k Participants Aged 50 And Over.

15. Employees Are Immediately 100% Vested With Their Own Salary Reduction Tax Deferred Contributions

16. 10% Penalty May Be Subject To Employee Withdrawals Before Age 59

17. Retirement Any Time During The Calendar Year In Which An Employee Turn 55 Or Later Are Not Subject To 10% Penalty

18. Within Certain Guidelines, An Employee Can Establish A Vesting Schedule For The Contribution An Employer Makes To The 401k Plan.

19. A 401k Plan Does Not Obligate An Employer To Make Any Contributions To The Plan, Unless The Plan Is Deemed Top Heavy.

20. A 401k Plan Is Also Available In Internet And Turnkey Forms.

21. A 401k Plan Has Excellent Range Of Investment Options Available, Sponsor To Offer Within The Plan.

22. An Average 401k Plan Has Up To 16 Investment Choices/Options But May Range Up To 8 To 20 Options As Well.

23. Self-Directed Investment Accounts And Company Stock Purchase Are Permitted In 401k Plans With Certain Terms and Conditions.

24. Till There Is No Distribution From A 401k Plan, No Federal Income Taxes Are Applied On Employee Contributions To The Plan. Same Goes With All Types Of Investment Gains And Earning.

25. Hardship Withdrawals And Loans Are Permitted In A 401k Retirement Plan.

26. During A Course Of Year, Participants Can Start Or Stop Contributions To The Plan As Determined By The Company.

27. Contributions To A 401k Plan By An Employer May Give Certain Tax Benefits To The Employer.

28. Discrimination And Top Heavy Testing May Apply To 401k Plans.

29. Typically, Contributions Of Other Employers Are The Function Of The Amount That Owners And Highly Compensated Individuals Can Contribute To A 401k Plan.

30. IRS 5500 Filings May Apply To 401k Plans

31. Files 5500 reports with IRS, Accounting, Participant Reporting, And Testing Are All Performed By The Vendor Selected By The 401k Plan Sponsor.

32. Today, 401k retirement saving plan has proven to be one of the most popular saving plans for employees for many reasons. Some them include increased profitability, employer matching contributions, and the highest on the list is the tax deferral.

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