The Participant EffectSM utilizes an online personal Financial Wellness Assessment to gauge your financial needs and provide custom education to help you meet your financial goals! Take the Assessment to receive a customized analysis of your current financial situation and recommended steps to help improve your position. It will also provide links to resources, articles, checklists and calculators designed to improve your financial literacy.
Social Security’s financial cliff is coming closer into view. Experts project that the fund that pays for government retirement benefits through FICA taxes will be depleted within the next 15 years.
A “distribution” occurs when you withdraw funds from your 401(k) account. You can transfer these funds to another 401(k) or an Individual Retirement Account (IRA). Or you may use them to finance your retirement or some other life goal.
New 401(k) Rules for the New Normal
An important part of tax planning when it comes to investing is considering the tax impact of accessing your investment funds. As you know, one of the key features of the traditional 401(k) retirement account is that you can contribute pre-tax dollars from your income, which then grow tax free until you need them.
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