Getting Involved
The maximum percentage of your income you can contribute to the plan
What is 90%
The sponsor of your 401(k)
Who is my employer
Before this age if you withdraw its considered early and you will be penalized
What is 59 ½
Making consistent contributions for each pay period
What are recurring contributions
Your employer match is often considered “_______ money”
What is “free money”
How long after initial employment will I be incorporated into the plan
What is 3 months
If you’re going to be 50 or older by December 31st you can make this type of contribution
What is a Catch up contribution; the amount ($7,500)
The amount of 401k accounts I can have at one time
What is as many as I want
Trekker will match up to ___% of your salary deferrals up to ___% of your eligible compensation
What is 50% and 2%
If you’re between the ages of 60-63 by December 31st you can make this contribution
What is a Super catch-up contribution; the amount ($11,250)
Upon an early withdraw what happens to my money
What is a 10% tax from the government
How many loans on my 401(k) can I have out at once?
What is 1
The total dollar amount you can contribute for one year
What is $23,500
What happens to my money if my employer goes bankrupt
What is I still have my money
When do RMDs kick in and what are they
What are they kick in at 73 years old and they're required minimum distributions