Question

In 2017, what was the maximum amount of money most employees throughout the united states could invest to either a 401(k) or 403(b)?

Answer 1

In 2017, $26,000 was the maximum amount of money most employees throughout the united states could invest in either a 401(k) or 403(b).

401(k) plans may exclude workers who work less than 1,000 hours per year. This equates to approximately 19 hours per week for one year of employment. GAO found that 20 of the 80 plans it surveyed required an employee to work certain hours to participate in her 401(k) plan.

A defined contribution (DC) plan is a retirement plan, usually tax-advantaged, like his 401(k) or his 403(b), in which an employee contributes a fixed amount or percentage of salary. Pay into an account intended for funding purposes—their retirement benefits.

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