By Stephen J Butler
The writer, cofounder of a third-party pension management company and public speaker, discusses how 401(k) plans paintings, the right way to check the standard of a plan, and the way to revamp it to be larger. Of most probably curiosity to corporation decision-makers and energetic 401(k) plan individuals.
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The writer, cofounder of a third-party pension management enterprise and public speaker, discusses how 401(k) plans paintings, tips on how to verify the standard of a plan, and the way to revamp it to be higher. Of most probably curiosity to corporation decision-makers and lively 401(k) plan individuals.
Sure, that is correct: The Freeman. this is often the unique, as edited via Albert Jay Nock within the early Twenties. it truly is radical, far-reaching, topical, and bracing in each approach. the following now we have a suite of what Nock himself thought of to be the easiest of that magazine, with the various articles (probably even part) written by means of Nock himself.
This e-book is a brief learn choked with Spooky proof on Halloween. have you learnt the place the identify comes from? What occurs if a bat flies over your place thrice? discover those proof and extra during this ebook!
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Additional info for 401(k) today: designing, maintaining & maximizing your company's plan
For example, a participant with an $8,000 account balance can borrow all $8,000, but $4,000 of the loan must be collateralized. Or, if a participant with a $10,000 account balance borrows $6,000, the first $5,000 (50% of $10,000) requires no collateral, but the remaining $1,000 of the $6,000 loan requires collateral. One thing to keep in mind: In any situation in which the loan balance is going to be more than 50% of the account balance, the maximum loan is $10,000. At first glance, this expanded loan limit may not seem worth the effort, but it can significantly improve the overall contribution level of lower-paid employees.
The Ability to Borrow is Crucial to a 401(k) Plan's Success ¨ Loans can be made for any purpose. ¨ Loan amounts are 50% of the account balance up to a maximum loan of $50,000; however, participants can borrow 100% of the first $10,000 in their accounts. ¨ Loan interest rates are comparable to those of local financial institutions, and the loan term can be up to five years, and up to 20 years for the purchase of a primary residence. ¨ Without a liberal loan policy, participants who need to withdraw money from their accounts are forced to use hardship distributions, which carry draconian taxes and penalties.
S. trade bookstores and wholesalers. Please contact Publishers Group West, 1700 Fourth Street, Berkeley, CA 94710. Tel: (510) 528-1444; Fax: (510) 528-3444. Printed in the United States of America Printed on acid-free and recycled paper that is composed of 50% recovered fiber, including 10% post consumer waste. Butler. cm. Includes bibliographical references and index. Title. 3'253dc21 99-31554 CIP First Edition 05 04 03 02 01 00 99 10 9 8 7 6 5 4 3 2 1 Interior Design: Gopa Design Editing: Marilyn Alexander Production: Linda Jupiter, Jupiter Productions Proofreading: Elinor Lindheimer Indexing: Paula C.