What Are The Minimum & Maximum I Can Contribute To My 401(k) Each Year?
Posted: May 13, 2020
There is no minimum amount you are required to contribute to your 401(k). However, there are suggested amounts to help maximize your retirement potential. There is a maximum amount you are allowed to contribute to a 401(k) annually, as established under federal law. What Are the Suggested Amounts for 401(k) Contributions? By the time you reach age 35, some financial experts say you should have...
My 401(k) Is "Frozen" — What Does This Mean & Why Did It Happen?
Posted: April 28, 2020
The decision to freeze a 401(k) is made by company management. This often occurs after a merger, while the new company decides what to do with its inherited 401(k) plan. If your 401(k) has been frozen, you won’t be able to make any withdrawals or make any new contributions as long as the freeze continues. In most cases, you can move assets from one investment...