What Happens If I Stop Adding To My 401(k)?
Posted: February 28, 2020
Contributions to a 401(k) can stop for a variety of reasons. You may have been laid off or fired or left your job voluntarily. You could also choose to stop your 401(k) contributions while still employed with the company, with no penalty for doing so. What happens to your 401(k) after you stop adding to it may be largely up to you, depending on the...
Should I Offer My Employees Health Insurance Or 401(k) First?
Posted: January 13, 2020
It is an employees’ market today, which makes it a challenge to find the best talent. Once you get them on board, the next challenge is retention. Offering a great employee benefits package is one of the best ways to keep your best employees. Although there is some cost to the company, providing a range of employee benefits helps keep your business stable. If you...
What Happens If I Stop Adding To My 401(k)?
Posted: December 28, 2019
If you have a 401(k) account through your employer, it is never a good idea to stop contributing to it, even temporarily, if you can possibly avoid it. If you are experiencing a financial crisis of some sort, the solution is not to stop adding to your 401(k). The following are some important reasons to continue contributing to your 401(k), even in times of financial...
Should I Sign Up For Life Insurance Through Work If I Already Have A Life Insurance Policy?
Posted: December 13, 2019
Life insurance is offered by some employers as part of their group benefits package. Usually, the employer pays for most or all of the premiums. Companies are not required to provide life insurance for their employees. When they do, it is a nice benefit, and you should take advantage of it. If you already have an individual life insurance policy, that is ideal, as group...
What Does Being “Vested” In Your 401(k) Mean?
Posted: November 28, 2019
As defined by the IRS, vesting in a retirement plan means ownership. Each employee vests a certain percentage of their account in the 401(k) plan every year. An employee who becomes 100% vested in his or her 401(k) account balance owns 100% of the balance. When this occurs, the employer cannot take it back (forfeit) for any reason. Amounts that are not vested in a...
