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401(K) plan

Zach Evers Period 4. 401(K) plan. Upton Investment Group. OVERVIEW. What is It? How Does it Work? Loans/ Withdrawls A Great Way to Save Managed by Professionals. WHAT IS IT?. Type of retirement plan for employees of participating companies

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401(K) plan

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  1. Zach Evers Period 4 401(K) plan Upton Investment Group

  2. OVERVIEW • What is It? • How Does it Work? • Loans/Withdrawls • A Great Way to Save • Managed by Professionals

  3. WHAT IS IT? • Type of retirement plan for employees of participating companies • Save and invest money deducted form paycheck • Established by Federal Government in 1981

  4. HOW DOES IT WORK? • You decide how much to deduct from each paycheck • There is a legal maximum • Deductions are not taxed • You decide how to invest the money

  5. LOANS/WITHDRAWLS • Depending on your 401(k) plan rules, you can borrow money from your account • Withdrawls are restricted • Money id for retirement, after age 591/2 • Withdrawls are subject to a 20% tax • Possible additional 10% early withdrawl penalty

  6. A GREAT WAY TO SAVE • Increase your take-home salary

  7. MANAGED BY PROFESONALS

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