A 401(k) account is a tax-deferred retirement savings account setup by many employers for their employees in the United States. Employees can elect to contribute part of their earnings - either pre-tax or after-tax - to their 401k account and the employer will often make a matching contribution for a portion of it. The before-tax and/or after-tax contributions are subject to yearly limits set by the IRS. Related to the 403b and Thrift Savings Plan (TSP)
Questions tagged [401k]
1112 questions
6
votes
2 answers
Can I go beyond my 15% contribution cap when I start contributing to 401k in fourth quarter?
My employer tells me that they will match 25% of my contributions up to 8%. I guess that means 8% of my gross salary is eligible for a 25% match.
I'm starting contributions from Oct 1 and they have a 15% cap. They are saying they want to cap my…
Bradley Thomas
- 565
- 4
- 14
3
votes
1 answer
Do 401k contributions need to be invested? Can it be left as cash in the account?
As title. Since the market is a bit volatile now, wondering if I can keep the 401k contributions as cash and invest them later. Or does it necessarily need to be invested in one of the options that the brokerage provides? Thanks!
greenberet123
- 133
- 3
2
votes
1 answer
Clarification on maintaining 401 K Account with Ex-Employer?
A year ago, I changed my job and holding new 401K with my current Employer. I have not transferred my previous 401 K account to my new Employer.
I still maintain my existing 401 K account with my previous Employer. I haven't seen any Interest Rate…
goofyui
- 1,117
- 7
- 17
2
votes
0 answers
401k Matching: Why match 50 cents on a dollar up to 8% instead of dollar for dollar up to 4%?
What is the reason an employer would match 50 cents on every dollar up to 8% instead of matching 1 dollar on every dollar up to 4%? Is it the same or approximately the same thing?
Rich
- 1,749
- 2
- 16
- 31
2
votes
1 answer
Excess 401k Contribution Found After April 15th but before May 17th
Hoping for an answer ASAP. I just found out I have overcontributed to my 401k for 2020 (2 different employers). It's after April 15th so Fidelity can no longer withdraw the excess. However, I haven't filed my taxes yet. I still have 2 days! …
LSW
- 23
- 2
1
vote
1 answer
Is there a sharia based 401k alternative?
I am very interested in investing and saving. I read this order of investing. I am a Muslim living in a Muslim country. I do not have 401k plans. What alternatives can I use which satisfy sharia?
user4884
0
votes
3 answers
Does taking a 401k loan have the same effect as a hedge against a down market?
I have a 401k balance in the low six figures.
I maximize my contributions every year to the IRS max and my employer has a 6% match. This results in about ~$35k of new money going into my account every year
I see myself as having the option to…
PropositionJoe
- 774
- 7
- 12
0
votes
4 answers
Is 401k matching unfair to lower-paid employees?
Let's say an employer matches "the first 4% of salary" an employee puts towards their 401k. Does that mean lower paid employees get less of a perk?
TomOnTime
- 143
- 3