Which is true about making contributions to a 401(k) account?

Social Studies

1 answer:

Dimas [21]2 years ago

6 0

Facts about 401(K) account are the following:

1. Employee contributions to a 401(K) are tax deductible

2. The employer's plan may not discriminate against lower paid employees

3. You cannot put into more than 25% of your earned income which is counted w/your employer's contribution

4. Growth within the 401(K) is tax-deferred until you withdraw your money

5. If/ when you die, if you are married & have a 401(K) your SPOUSE IS THE BENEFICIARY. Federal law says that the spouse is the beneficiary UNLESS they waive their rights

6. Tax sheltered but you can only put your money in investments that have been approved by your employer (diversify! Don't invest in your company's stock, look at the fees)

7. You generally cannot withdraw funds without penalty before age 59 1/2 except under special circumstances.

You might be interested in

PLS HELP ASAP! Women in the West in the mid-1800s were more likely than women in the East

Mkey [24]

Answer:

Explanation:

No woman could vote at that point in time so process of elimination is how I got it

7 0

2 years ago

Read 2 more answers

Explain how the Italian city states were organized?

Nookie1986 [14]

Answer:

The Italian city-states were a political phenomenon of small independent states mostly in the central and northern Italian Peninsula between the 9th and the 15th centuries.

After the fall of the Western Roman Empire, urban settlements in Italy generally enjoyed a greater continuity than in the rest of western Europe. Many of these towns were survivors of earlier Etruscan, Umbrian and Roman towns which had existed within the Roman Empire. The republican institutions of Rome had also survived. Some feudal lords existed with a servile labour force and huge tracts of land, but by the 11th century, many cities, including Venice, Milan, Florence, Genoa, Pisa, Lucca, Cremona, Siena, Città di Castello, Perugia, and many others, had become large trading metropoles, able to obtain independence from

4 0

2 years ago

What years did the cattle drives take place from

Marina86 [1]

Cattle drives were a major economic activity in the 19th-century American West, particularly between 1866 and 1886, when 20 million cattle were herded from texas to railheads in kansas for shipments to stockyards in chicago and points east.

 Hope this helps:)

7 0

2 years ago

Which of these was a major cause of the mexican-american war

Roman55 [17]

Answer:

texas

Explanation:

3 0

2 years ago

Evaluate the extent to which religious responses to wealth accumulation in eurasia

QveST [7]

Eurasia is the combination of some parts of Europe and asian continent.

Religious view on wealth combination in these two regions were massively different.
Europe that dominated by Christians actually see wealth accumulation as acceptable as long is you don't let your life being controlled by it (eventhough the facts is many religious leaders actually lavished with a lot of wealth compared to commoners)
In asian continent that dominated by Buddhism, Confucianism, or Hinduism, wealth accumulation is seen in a more negative connotation compared to the European view.

7 0

2 years ago