Article provided by: The 401(k) Plan Company
The 401K Plan Company provides solutions for the leading 401K in Santa Barbara. Our company focuses on providing clients with the resources to control their 401k retirement plans.
It isn’t uncommon for people to have 401K questions regarding their retirement and pension plans. Relying on our premier pension and 401(K) consulting in Santa Barbara, CA, can clarify any misunderstandings related to your project.
Commonly Asked Questions Regarding Employee Benefits in Santa Barbara, CA
Anyone who has a 401K plan in Santa Barbara needs to fully understand the terms related to their goals. Planning for the future isn’t necessarily straightforward and free of doubts because of unaccounted for obstacles. At The 401K Plan Company, we want to offer transparent services that are honest and reliable. Please review the list of frequently asked questions about potential retirement plans. Our customer support team can address any unanswered questions or concerns.
Can you help me create a part-time and temporary employee retirement plan?
Yes, we can help just about everyone with gaining control over their financial stability. Celebrating the best moments in life requires a plan of action that considers all potential factors and possibilities. Even part-time and temporary employees can develop retirement and pension plans. There isn’t a limit to the capabilities of our staff at The 401K Plan Company.
Should I expect my employer to provide matching contributions?
Not every employer offers matching contributions to 401K retirement and pension plans. The decision to match 401K plans’ contributions remains left to each employer, as the match is considered profit sharing.
If my employer doesn’t offer matching contributions, why should I contribute?
Even if your employer doesn’t match your retirement plan contributions, you shouldn’t deter from making contributions. Small investments, like the contributions, can provide a financial safety net for the future.
How many 401K plans can I establish?
Currently, no legal limits are in place regarding the number of 401K plans held at one time. However, you cannot contribute funds into a 401K account with an employer who longer employs you. Keeping a previously created 401K plan isn’t always the best thing to do, as consolidation may be more favorable.
Can I contribute to my 401K plan and an IRA?
If you actively participate in a workplace retirement plan, you can make maximum contributions to traditional IRA accounts. The grants may not be tax-deductible, but that factor can vary significantly.
Can I retire before age 59 ½ without facing penalty fees?
Monthly withdrawals from your 401K plan will not face early distribution penalties if you are fifty-five or older. Those who qualify for Section 729(t) distribution may not have to pay the ten percent fee for retiring early.
Take Control of Your Financial Future Today!
The 401K Plan Company would be honored to help you take control of your financial future. Our staff is readily available to offer guidance and review your potential options. Please call 858-220-1505 to start exploring your possible retirement and 401K plan opportunities. We can discuss our monthly membership packages for employers and employees!