Invest in Your Future With a 401k
A 401(k) is a type of retirement savings plan that helps you to plan, save, and invest in your future. There are tax benefits, but there are also so penalties that every investor should know. We can help guide you through the process to ensure you choose the best retirement option for you.
2016 Pension Plan Limits
401K Benefits
- Any business, whether a C Corporation, S Corporation, partnership, sole proprietorship, self-employed can establish Plan.
- The company sets the eligibility requirements, within certain guidelines, at the time the plan is established.
- Contributions to plan can come from voluntary employee salary reduction, from employer, or both.
- Each individual employee can defer in 2015 up to $18,000 or 100% of compensation, whichever is less.
- Participants age 50 and over can make additional "catch-up" contributions of $6,000 in 2015.
- Employees are immediately 100% vested with their own salary reduction tax deferred contributions.
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