You miss out on the match 2. You pick the wrong funds 3. You don't rebalance. But there are mistakes, and there are Hall of Fame mistakes that can torpedo your best intentions and keep you working long into your golden age.

Yes. Amounts deducted from employees' gross salaries to pay for these items are wages. If, however, the employer makes a matching contributions to an employee's 401k plan, the amount contributed by the employer is not wages.

You are eligible to participate in the 401K on the same date you become eligible for benefits. The company has a discretionary 401(k) match. You are eligible for the match the first of the quarter following one full year of employment. You must be an employee on December 31st of the year to receive the match. The contribution amount is 50% up to 6% of your annual salary. For example, if you contribute 6% of your annual salary, then your match from TeamHealth would be 3%.

The 401(k) is a tax-deferred retirement plan for private sector employees, while the 403(b) is a tax-deferred retirement plan for employees of educational institutions and certain non-profit organizations. There are other differences. For more information go to irs.gov or consult an experienced financial advisor.

Each consultant will receive a new hire packet, which includes a 401K-enrollment form. The enrollment form should be submitted to our HR department. Once this is received a 401K package will be sent which outlines the investment options.

Yes. On April 20th, 2005 the President signed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("Act"). The Act makes significant changes in the bankruptcy rules, including adding specific protections for retirement plans. The Act goes into effect for bankruptcy petitions filed after October 16, 2005.The new law exempts from the bankruptcy estate assets held by a qualified plan (Solo 401k or Company 401k), 403(b) plan, 457 plan or IRA (traditional, Roth, SEP and SIMPLE).

You are the "Plan Administrator" as that term is used in the Federal Law known as "ERISA". 401kAdministrators.com serves as the Third Party Administrator ("TPA") providing technical and administrative support services including qualified plan establishment, recordkeeping, reporting, compliance, loan administration and processing.

You can have a 401kBrokers.com Solo 401k plan with just one or more business partners and no other employees. It will not be subject to top heavy testing, and the anti-discrimination rules as long as your partners are 5% or greater owners or are "highly compensated" (receives more than $100,000 in income from the business (2006) and you have no other employees other than your partners.

For 2004: A: The maximum employee and employer contributions combined may not exceed $41,000 in 2004 (if you are under 50) and $44,000 if you are older than 50 (or if you turn 50 in 2004). For 2005: A: The maximum employee and employer contributions combined may not exceed $42,000 in 2005 (if you are under 50) and $46,000 if you are older than 50 (or if you turn 50 in 2005).

Loans are available at all of our custodians up to 50% of the account balance not to exceed $50,000. The interest rate is a commercially reasonable rate. Rates considered reasonable by the Department of Labor range from a certificate of deposit rate plus 2% to the prime rate plus 1%. The rate is fixed and fully amortized. (Under our 401k program, you can have no more than two loans outstanding at any one time.

A participant and their surviving spouse can rollover to an IRA, a non-spouse beneficiary cannot rollover to an IRA. I.R.C. ?402(c)(9); Treas. Reg. ?1.402(c)-2. Beneficiaries usually may withdraw the entire 401(k) in a lump sum if they choose, says Internal Revenue Service spokesman Jesse Weller according to Arthur M. Louis. If they prefer installments, there are generally minimum amounts that must be withdrawn.

Only If you have employees may you need a Safe Harbor 401k plan. You may need such a plan if the owners (individuals with more than 5% ownership) and the highly compensated employees (HCE's) (employees making more than $95,000 per year) put in a disproportionate amount of money into the 401k plan compared to the non-owner employees and the non-highly compensated employees (NHCE's).

Amounts deducted from employees pay for any purpose are considered wages. Employer paid contributions for certain health and retirement purposes are not taxable. See NDCC 52-01-01.31 for details.

Employer contributions are not required; however, if the highly compensated employees ("HCE") owners, management, and key executives maybe limited as to what they can contribute if the others do not participate.

Yes. I.R.C. ?401(k)(B)(i) pertaining to eligibility of state and local governments and tax-exempt organizations specifically makes tax-exempts eligible sponsors of 401k retirement plans. "...Except as provided in clause (ii), any organization exempt from tax under this subtitle may include a qualified cash or deferred arrangement as part of a plan maintained by it..."

Yes you can. The contributions to your Solo 401k will be based on your self-employment income and not on income earned as an employee of another company. However, the two plans are treated as one for purposes of determining your maximum contribution limits. You may not defer more than $15,500 into both plans combined. For example, you may not defer the maximum as an employee at work ($15,500 in 2007) and then another $15,500 into your Solo 401k as an employee of your own company.

Yes. Sole proprietors, partnerships, corporations (including S-corporations), LLC's, and LLP's may all establish 401k plans.

We prepare your 401k plan tax return at no additional charge. (Although it is an IRS form, (IRS Form 5500 or Form 5500 EZ) since no tax is due, it is actually an "informational return" and it is filed with the Department of Labor).

You can still have a 401k plan, but it won't be a "Solo" 401k plan per se as you will now be subject to top heavy testing, and the anti-discrimination rules unless your child is a 5% or greater owner or is "highly compensated" (receives more than $100,000 in income from the business (2006) and you have no other employees other than your spouse.