The maximum 401k contribution per year to a 401(k) plan in 1998 is not to exceed 25% of compensation. Although there is no legal minimum contribution requirement, in order to reduce the plan’s administrative costs, some plans establish a minimum amount that must be contributed.

There is also a limit on total 401 k contributions that employee and employer together can (more…)

If you, like many Americans today, are longing to leave the rat race and retire from your job, but don’t feel that you can yet afford to do so, this third and final article in a series on “Redefining Retirement”, discusses one of the most critical success factors in starting and building a successful home-based business as a baby boomer entrepreneur or retiring baby boomers: Time Management. (more…)

Unlike past eras, it’s doubtful you’ll spend your career with the same employer. When you’re ready to move on, you’ll face some important decisions about what to do with your 401(k) plan. Essentially, there are four choices when you’re ready to take a hike:

1. Take the money and run. (more…)