Retirement Planning: Top 401k Plan Frequently Asked Questions

Posted by Grace under Retirement Planning on June 9, 2017

401k plan is a retirement saving option sponsored by your employer. There are different types of 401k plans that you should understand. Some plans maybe good for employees that only have low risk tolerance and some are great for high risk types. There are may questions related to 401k plans. Retirement Planning IQ collected these list of 401k plan frequently asked questions online, on forums, blogs, and even on personal finance books.

Employees should be well-informed about their 401k plans. The employers should tell the benefits the 401k plans to their employees. In my opinion, the most important questions that an individual should ask about 401k is this;


“Why should I contribute to 401k plan if I can invest in stocks using stock brokerage services, use my money to start a small business and can 401k plan guarantee the employees a comfortable retirement and financial freedom?” ~ asked by Retirement Planning admin!

  1. What is a 401k plan and how does it work?
  2. How do an individual contribute to 401k?
  3. Why is it called 401k?
  4. What should employees do if they want to close their 401k accounts and use the money for business start ups?
  5. Can a 61 year old man take money from his 401k and transfer to an IRA without paying taxes, penalty of interest?
  6. Can you please name some companies in the United States that offer retirement plans?
  7. Where can employees check their 401k plan?
  8. Do banks offer 401k plans?
  9. What is the difference between IRA and 401K Plan?
  10. What Federal Department regulates 401k plans?
  11. What happens to retirement 401k if the employees leave, fired or retired?
  12. How do employees calculate a 401k plan?
  13. Can employees opt out for their 401k plan?
  14. What is the official retirement age in USA and how can they use the 401k funds?
  15. Can you get the money out of the 401k plan at any time?
  16. What is the required minimum distribution from 401k plan?
  17. How should an individual allocate his 401K retirement plan?
  18. What is the best 401k plan for a 25 year old, 30 year old and a 40 year old guy that just want the highest possible profit short or long term savings/investing?
  19. Where can I find useful information on 401k plans?
  20. What happen to 401k plan when the contributor died?
  21. What should employees do with their 401k plan when they leave?
  22. Are 401k plans federally insured
  23. Do 401K plans pay dividends quarterly?

Image Credit: Investment Zen via Flickr CC 2.0

Top 401k Plan Frequently Asked Questions

We will soon answer these frequently asked questions about 401k plans. Stay tuned to Retirement Planning What about you? Do you have a personal questions that you would like to ask about 401k plan? Leave your question in the comment box.

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