Maintaining retirement savings accounts is an important part of planning for your future. But with so many different retirement accounts to choose from—all with different rules and requirements—knowing which is best for you can be confusing.
One of the most common types of retirement accounts is a 401k. At Harvest Wealth Partners, we can answer all of your questions about 401ks and 401k rollover options. For help with your 401k rollover near Northwest Indiana, reach out to our team of financial professionals directly today.
A 401k is a type of retirement savings plan. Offered by many employers, 401ks are tax-advantaged. When an employee signs up for a 401k account, they agree to have a percentage of their paycheck deposited directly into an investment account each pay period. Then, the employer will match some or all of the contribution. In a traditional 401k, employees’ contributions are made pre-tax, which means that no tax is paid on the amount contributed at the time that the employee puts it in the 401k. When the money is withdrawn, a tax is paid.
401ks are for employees whose employers offer 401k savings options. As such, if you leave a job where you have a 401k, you’ll need to understand your options. There are four options for your 401k plan when you’re leaving an employer (for non-retirement reasons):
If you have questions about retirement accounts and how to manage your rollovers, please reach out to our team at Harvest Wealth Partners today. We can answer all of your questions about 401k rollovers near Northwest Indiana and facilitate the process. Reach us today by phone or online to get started.
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