News & Insights
What is a qualified retirement plan?
In 1974, the United States enacted the Employee Retirement Income Security Act (ERISA) to protect workers’ retirement income and offer more information and transparency with how their plans work. Two types of retirement plan categories emerged as a result: qualified retirement plans and nonqualified retirement plans. What is a qualified retirement plan? A qualified retirement […]
Including an IRA into your retirement planning
If you are one of the many people who want to save up to reach their dream retirement, then you need to consider all your options. If your employer offers a workplace retirement plan, such as a 401(k), then that is a great way to save and grow your wealth. However, whether or not you […]
How investment risk tolerance affects your retirement planning
Most financial planning experts agree that you should start saving for your retirement as soon as possible if you ever want to reach your retirement goals. The first dollar that you save and invest is the one that produces the greatest return over time. How much you can save and invest varies from person to […]
Can I contribute to a 401(k) and IRA?
Saving for your retirement is possible through several different retirement accounts. However, which ones you are eligible for depends on your personal circumstances. For many people with full-time jobs, their employers offer a company-sponsored 401(k) plan. If your employer does not offer a 401(k) plan, you can still save through an individual retirement account (IRA). […]
How after-tax 401(k) contributions benefit you
One of the main benefits of saving for your retirement through an employer-sponsored 401(k) is that you make contributions with pretax dollars. This allows you to grow your retirement savings tax-free with money you contributed before paying annual taxes, which lowers your overall taxable income for the year. The IRS limits 401(k) contributions to $19,500 […]
What happens to your 401(k) in a divorce?
Part of any divorce involves splitting marital property that spouses have acquired throughout the marriage, such as housing, transportation and other personal property. One of the largest assets that is subject to division in a divorce is your retirement savings account, such as your 401(k). The rules for how a 401(k) is split in a […]