Contributions
This type of contribution will help me reduce my taxability each year.
What is a pretax contribution?
This type of distribution offered by plans that participants take and are not responsible for the early withdrawal penalty
What is an age 59.5 withdrawal?
Target Date Retirement Fund according to your year of birth.
How will I be invested if I don't proactively select funds in my 401k?
3% of My W-2 Wage Pay
What is the company contribution to my 401(k)?
Austin Sander, Gary Decker, Dominick Decker, and Clark Armor
Who can I ask for assistance with my 401k investments or other 401k questions?
I never wanted to enroll in the 401k. What transaction can I do to get my money back?
What is a refund of auto-enrolled contributions? (If plan allows)
This type of withdrawal can only be used for emergency funds related to specific life events.
What is a Hardship Withdrawal?
This type of fund invests according to an expected retirement year.
What is an aged-based fund?
6 Months of Employment
How long do I have to work for GPV before I can enroll in the 401(k)?
This contribution limit says you can contribute up to $24,500 in pretax/roth deferrals for 2026
What is the IRS savings limit?
10% Withdrawal Penalty Tax
What is the penalty for a withdrawal prior to age 59 1/2?
A managed collection of investments in one fund, with funds pooled from many investors, to purchase a collection of stocks, bonds or other securities.
What is a mutual fund?
18 Years of Age
How old do I have to be to contribute to the GPV 401(k) Plan?
Laurel Edwards
Who is the GPV Plan Administrator?
Contribute an extra $8,000 per year
What is the 50 year old and over Catch Up Contribution?
I made a withdrawal from my plan but no longer want to be held responsible for all of the taxes so I have 60 days to act.
What is an in-direct rollover?
A low-risk investment option, often described as a cash equivalent or money market type of fund.
What is the Invesco Stable Value Fund?
I want to change some of my pre-tax contributions to Roth.
What is an In-Plan Roth Conversion?
Wealth Alliance Advisory Group
Who is the firm who manages the investments and serves as a fiduciary to the 401(k) Plan?
I don't want to pay tax on my contributions when I take distributions after age 59 1/2.
What is a Roth Contribution?
Death, Disability, Retirement, Certain Financial Situations, Termination of Employment
When can I take money out of our 401k Plan?
Funds that lend money to a government, municipality, or corporation.
What are bond funds?
1% over prime interest rate
What is the interest rate on a 401k loan?
A Notarized Signature is required for this.
What is a non-spousal beneficiary designation if married?