Workinprogress,No, I was referring to an employer withholding from your check and sending it to one of the big three for you. Employer has no 401K plans available.
2) No. Most do have 401k plans, if that's what you mean, but not all do.
Thank you.
Sorry for asking this. Did your brother asked the HR just to be sure?
My family member worked 30 hours per week for the county government for a few years. She asked the HR and it had 401K and 457(B). It turned out many existing county employees that had been there for 10+ years didn't ask the HR and didn't know that they qualified. They skipped the training session on retirement savings. And, the county put $X into the 401K with no employee contribution as long as they opened the 401K account.
And, the question needs to be general. Aka, what kind of retirement accounts that the employer support? In some cases, it could be SEP-IRA or something else.
When you asked the wrong question, you will never get the right answer!
Question: 401K -> No.
Question: Retirement account -> Yes. -> SEP-IRA or 457(B) or 403(B)
KlangFool
Statistics: Posted by KlangFool — Sat Jun 08, 2024 9:42 pm — Replies 13 — Views 367