Archive for November, 2008
401k Regulations
By admin at 12 November, 2008, 1:53 am
www.cakefinancial.com Congress authorized the creation of 401(k) plans in 1981, and today they’re governed by the US Department of Labor.
Read More >>401k Match
By admin at 6 November, 2008, 2:09 am
www.cakefinancial.com You may not be the only one contributing to your 401(k) plan, thanks to employer matches. What does that mean? Simply that your employer might match part or all of your 401(k) plan contributions.
Read More >>401(k) Rollover
By admin at 5 November, 2008, 11:44 am
www.cakefinancial.com If you’re taking a position with a new employer or even retiring, you’re faced with a major financial decision what to do with the money in your 401(k) plan. No problem! One of the benefits of a 401(k) plan is that it can follow you throughout your career, thanks to rollovers. When you change jobs or retire, you have several options for your 401(k) plan.
Read More >>401(k) withdrawals
By admin at 3 November, 2008, 3:15 pm
www.cakefinancial.com Generally speaking, you can start taking distributions from your 401(k) plan when you reach age 59?—but what if you want to take withdrawals earlier? Uncle Sam is waiting to tax your money, and when he does, your nest egg may not be quite so plump. Twenty percent of your savings will be withheld immediately to pay federal income taxes, and you’ll have to pay any remaining federal taxes, as well as state and local taxes, when you file your taxes return.
Read More >>