March Coffee Chat - 401(k)

Basics

100

Where did '401(k)' get its' name

Section of the U.S. tax code

200

This is the maximum employee contribution limit for 2025

$23,500

300

This is the age at which you can withdraw from a 401(k) without a penalty

59 and a 1/2

400

If you leave your job, you can do this with your 401(k)

roll it over into an IRA or your new employer's 401(k)

500

What is the main difference between a traditional and roth 401(k)

when you pay taxes 

traditional: taxed at withdrawal

Roth: taxed upfront

JetBridge

100

This is the term for 'free money' your employer adds to your 401(k)

employer match

200

What is the default fund for 401(k) called?

target date fund

300

Does JetBridge have employer match?

Yes

400

What is the name of the company that manages JetBridge's 401(k) plan

Ascensus

500

How/where do you sign up/log in for JetBridge 401(k)?

Ask Jay or visit https://secure.ascensus.com/login/participant

Tax

100

This type of 401(k) allows tax-free withdrawals in retirement

roth 401(k)

200

Which account type has RMD (Required Minimum Distributions) 

traditional 401(k)

300

The IRS allows these penalty-free withdrawals before 59 and 1/2 for emergencies

hardship withdrawals

400

401(k) contributions reduce this on your paycheck

taxable income

500

Are you contributing to 401(k)

Yes/No/Thinking About it