401k Glossary – Important 401k Retirement Savings Terminology

This 401k glossary covers terms that are deemed important for any 401k retirement saver to know. Examples of glossary terms range from categories such as 401k investments (mutual funds, bonds, stocks, asset allocation), annuity payments, rollovers, withdrawal rules and more. 12b-1 Fees 12b-1 fee represents expenses used for marketing and promotion of the fund. 12b-1 …

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Using Your 401(k) Balance to Finance a New Business – Some Things to Consider by beconrad

While starting your own business can be an excellent way to secure your financial future, finding the cash you need to get that startup off the ground can be very difficult. One possible solution is to use the funds in your 401(k) plan, but you need to tread cautiously and examine the options before proceeding. …

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401k and IRA Rollovers – Direct IRA Rollover Rules – 20% IRA Withholding Law

What is a Direct IRA Rollover? A Direct IRA Rollover is when your 401k retirement savings (or 401k distributions) are transferred directly from your old employer’s account to your own Individual Retirement Account through a trustee-to-trustee transfer. This means the money never actually reaches your hands, it is wired from your old 401k administrator to …

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November 6th, 2019 IRS Announces Max 401k Contribution Limits for 2020

The IRS (Internal Revenue Service) announced the cost of living adjustments to pension and 401k retirement plans for the upcoming tax year of 2020. These adjustments are carried out by the Commisioner under Section 415 of the Internal Revenue Code. The 401k max contributions for the tax year 2020 and previous years is detailed below: …

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Risks of Investing 401k Retirement Plan Savings in Company Stock and how to Minimize that Risk

Many Corporations have learned from the fraud cases of Enron and WorldCom that they have to minimize their risk when most of their employees’ retirement savings are invested in company stock. What happens when the stock takes a deep plunge and employees lose a big chunk of their retirement savings? Million dollar lawsuits! Case in …

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