Buy custom What You Should Know About 401K Plans
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Business
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| Number of pages / Number of words: |
8 / 2054 |
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See Fig. 1-1 and 1-2 for 401 (k) growth analyses.
There are maximum contribution limits for 401 (k) plans which are determined by the Internal Revenue Service. For example, the annual limit for 2007 is fifteen thousand dollars, and this limit is evaluated and increased in five hundred dollar increments (The basics of a 401(k) plan)...
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For example, the annual limit for 2007 is fifteen thousand dollars, and this limit is evaluated and increased in five hundred dollar increments (The basics of a 401(k) plan). Also, those over fifty years old can make catch up contributions in addition to their normal contributions.
In a normal 401(k) the funds are taken from pre tax salary, and federal income tax is not paid until the money is withdrawn (Neiters)...
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