You request a “hardship withdrawal,” which is approved by Putnam Investments in accordance with the rules of the Plan for the amount needed. Please see page 12 of the Summary Plan Description (PDF, 215K) for more information about hardship withdrawals.

Your 401(k) plan helps you start regular investing, and stick with it. Your contributions are automatically deducted from your salary before you receive your check. Since the money is deducted from your gross income, you will have a lower taxable income, which means you will pay less in annual taxes. The money you save will accumulate on a tax-deferred basis. This means you pay no federal or state taxes on your contributions or investment earnings until you start withdrawing money from the plan.

Yes. Current tax law (EGGTRA tax reform legislation passed in 2001 and effective beginning January 1, 2002), permits an individual under Portability provisions to transfer funds from a 401(k) plan offered by a for-profit corporation to a 403(b) plan such as the plan offered by Northwestern University and vice versa. Individuals wishing to do so should contact their investment companies.

Generally speaking, yes. It depends on the individual travel nursing company. Many of these companies have very strong retirement programs, sometimes with company-matched contributions. Immediate program eligibility is also offered by some of these companies. Back to Top

Court Orders provide that if an investor purchased one of the qualifying stocks through a Settling Party during the time period of qualifying purchase and the investor suffered a net loss, the investor is eligible for funds, regardless of whether the investment was made through a 401(k) or a traditional brokerage account.

IRA can be rolled over into a qualified retirement plan, assuming the qualified retirement plan has language permitting such rollovers.

No, it is not a new type of plan. Designated Roth contributions are a new type of contribution that can be accepted by new or existing 401(k) or 403(b) plans. This feature is permitted under a Code section added by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), effective for years beginning on or after January 1, 2006.

Yes, we want to help our nurses plan for the future, so we offer the best 401(k) program in the industry. k) Safe Harbor Plan Eligibility: First of the month following 90 days of employment; must be at least 21 years of age. Company Match: 100% of contributions up to the first 3% of compensation plus 50% of contributions up to the next 2% of compensation Contributions: Employee may contribute up to $13,000; Age 50 and over may contribute up to an additional $3,000.

A 401(k) safe harbor plan is a 401(k) plan that automatically satisfies the nondiscrimination rules for elective deferrals and matching contributions. For a 401(k) plan to be considered a safe harbor plan, employers must satisfy certain contribution, vesting, and notice requirements.

the name implies, a 401(k) "look-alike" plan works much like a conventional 401(k) plan. Rather than offering a traditional 401(k) retirement plan, some corporations offer their employees, typically their executives, a "look-alike" plan. Most "look-alike" plans are funded by the employer with a variable universal life insurance policy that insures the life of the employee.

an American Mobile Healthcare traveler, you can start saving for retirement as soon as you begin your first assignment. You can contribute 50 percent of your salary or $13,000 annually, whichever is less. If you are age 50 or older, you may contribute $16,000 a year. After 1,000 hours of continuous service, American Mobile Healthcare will match 50 cents for each dollar you defer up to 6 percent.

A 401(k) plan is a defined contribution plan that is a cash or deferred arrangement. You can elect to defer receiving a portion of your salary which is instead contributed on your behalf, before taxes, to the 401(k) plan. Sometimes the employer may match your contributions. There are special rules governing the operation of a 401(k) plan. For example, there is a dollar limit on the amount you may elect to defer each year. The dollar limit is $11,000.

Yes. You may rollover funds from a qualified retirement plan into your 401(k) Plan. You may download the 'Rollover Statement' from this website or you may contact the Fund Office.

Usually no. Any money that you borrow for college must be paid back to your plan within five years or else you have to pay income taxes on the withdrawal plus the IRS 10% early withdrawal penalty. Money borrowed for freshman year tuition would have to be all paid back in five years, often the year after graduation when parents' assets may still be stretched.

Individually designed document. Determining what type of document to use will depend on the sponsor's needs for investment and design flexibility, the costs of document preparation and IRS review, and the costs of ongoing compliance with legislative and regulatory changes. If you want an easily-administered plan, a prototype or volume submitter plan should be fine.