For pilots, it sponsors a defined-benefit pension plan, a defined-contribution plan and gives access to a 401(k) that doesn't include any company match.
Many of us get busy and forget to check-in on our 401(k) plan on a semi-regular basis.
Unlike a regular 401(k) plan, a solo 401(k) plan can be implemented only by self-employed individuals or small business owners who have no other full-time employees (an exception applies if your full-time employee is your spouse).
For starters, the majority of defined-contribution plans haven't added the Roth 401(k) in-plan conversion option since it was created by a federal law nearly two years ago.
They may not look inspiring, but deep in the recesses of their brains they have these little ideas--a fast-food restaurant concept no one has ever anticipated, an assembly-line innovation that can lower production costs by 50%, a retirement-plan wrinkle to save everyone's 401(k)--and, someday, assuming they can find their toothbrushes amid the stash of moisturizing-cream bottles in their travel bags, they are going to realize their dreams.
If a plan sponsor is having their plan re-priced, those inactive 401(k)s could spell higher fees for the plan sponsor and those with a 401(k) at that firm.
Cathy is a technology teacher and student learning plan advisor at Edmonds Heights K-12 school in Edmonds, Washington.
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The strength of the DIY market belies predictions that as the baby boomers inched toward a retirement funded largely by their 401(k)-plan savings, most of them would seek a one-on-one relationship with a financial adviser to manage their nest eggs.
Have automatic payroll deductions (or deductions from your checking account) of at least 10% of your income made into a 401(k), 403(b), Roth, or traditional IRA, or self- employed retirement plan (SEP-IRA, SIMPLE IRA, solo 401(k)).
All teachers hired after 1991 were placed on a 401(k)-style plan.
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All current employees will no longer accrue defined pension benefits as of that date and will be forced into a 401(k)-type plan, as will new hires.
Having tried and failed to get anywhere with incremental changes in recent years, Rhode Island will soon have a hybrid pension structure that puts the bulk of contributions into a 401(k)-type plan that public workers can take with them to other jobs.
Using a defined-contribution plan, such as 401(k), is one way to achieve smooth benefit accrual.
The Center for Retirement Research studied the costs that afflict a typical self-directed 401(k) plan.
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All told, less than half of U.S. workers are now offered any pension plan at all--traditional or 401(k)-style.
After two brutal bear markets (2001-2002 and 2008-2009) retirement plan investors in 401(k) plans saw much of their lifetime retirement savings get walloped.
If your 401(k) plan administrator will cut you a separate check containing just your aftertax 401(k) contributions--and not include any of your pretax 401(k) contributions or investment earnings--you can roll that money into a Roth ira without recognizing a penny of taxable income, says Rockville Centre, N.
The Wall Street Journal reviewed comparative data and came up with the best characteristics of a well-run, affordable 401(k) plan.
If your plan has a pre-tax and a Roth 401(k) option, your tax return may help you decide which option to take.
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At Fidelity, only 260 employer plans out of 4, 000 plans that have a Roth 401(k) option are allowing in-plan conversions this calendar year.
Counsel them not to "cash-in" their 401(k) plan when departing.
Reasons you might want to keep your retirement nest egg in your 401(k) by doing an in-plan conversion include access to lower-fee institutional class funds, and for better creditor protection.
Remember: If your investment is held within an individual retirement account, Roth IRA, 401(k) or other tax-sheltered retirement plan, it isn't subject to cost-basis reporting.
The technique is known as dollar-cost averaging, and it's essentially what you do when you invest a set part of your paycheck every pay period via a 401(k) or other employer-sponsored retirement plan.
We plan weekly and for the English portion of the day all K-5th grade teachers team.
With the first generation of 401(k)-investors set to retire, is this plan living up to the hype?
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One of the smartest moves they can make (including the self-employed) is to start a 401(k) plan before December 31st.
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The key difference, however, is that you can add a 401(k) allowing employee contributions to a profit-sharing plan, but not to a SEP.
Looking at the total plan expenses, including administrative and record-keeping fees, the 401(k) Averages Book found that the average total expense for a small plan in 2012 was 1.46%, with a range between a low of 0.38% and a high of 1.97%.
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