A 401(k) plan is the common name in the USA for the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code. Under the plan, retirement savings contributions are provided (and sometimes proportionately matched) by an employer, deducted from the employee's paycheck before taxation (therefore tax-deferred until withdrawn during retirement), and limited to a maximum pre-tax annual contribution of $17,500 (as of 2013).Alternative employer-provided defined-contribution pensions include 403(b) and 401(a), offering higher mandatory limits.
Posts about 401(K)
  • The Missouri Chapter 7 Means Test

    … If you are contemplating filing for bankruptcy, the Missouri Chapter 7 means test may come into play in order to determine your eligibility. Bankruptcy incorporates federal law and state law—both of which can be very complex. If you are contemplating filing a Chapter 7 bankruptcy, you need an attorney on your side who knows and understands…

    www.kcarplaw.com- 9 readers -
  • Morgan Stanley Sued for Mismanaging 401(k) Plan

    … Morgan Stanley Sued for Mismanaging 401(k) Plan Posted on Monday, September 12, 2016 at 8:55 AM From the Desk of Jim Eccleston at Eccleston Law LLC: Last month, a lawsuit was filed against Morgan Stanley in Manhattan federal court. Morgan Stanley was accused of mismanaging the firm’s 401(k) retirement plan and costing 60,000 employees…

    Eccleston Law Offices- 26 readers -
  • New Trend in Excessive 401(k) Plan Fees?

    … New Trend in Excessive 401(k) Plan Fees? Posted on Thursday, August 4, 2016 at 3:30 PM From the Desk of Jim Eccleston at Eccleston Law LLC: Litigation resulting from alleged breach of fiduciary duty in 401(k) plans has been more common, but limited mainly to corporations sponsoring multi-billion-dollar retirement plans. Not until recently…

    Eccleston Law Offices- 11 readers -
  • Don't be the target of a 401(k) plan suit

    … of this ruling, in November, 2015, Boeing paid $57 million to settle a lawsuit related to excessive fees and an improper fund selection process in its 401(k) plan. In order to avoid potential lawsuits in the future over 401(k) plan recommendations, an advisor should draft a detailed Investment Policy Statement (IPS). An advisor should consider the following…

    Eccleston Law Offices- 12 readers -
  • "Short Sale" of Real Estate

    … be obtained. Outstanding judgments or tax liens may also be an issue as the buyer would need to receive clear title. The process of obtaining a short sale usually takes several weeks to pursue and one needs to furnish substantial documentation, including personal financial information such as paycheck stubs, bank statements, 401(k) statements…

    Miami Bankruptcy Law Blog- 29 readers -
  • What Happens to My Retirement Accounts If I Am Terminated?

    … situation while you search for a new suitable job. However, in addition to your regular income being placed in jeopardy, you may also worry about the future of any retirement accounts that you had through your former employer. Pensions, 401(k) accounts, and other investment accounts should all be addressed following a termination. What happens to these…

    www.kcarplaw.com- 13 readers -
  • 401(k) Plans & ERISA in a Post Tibble World

    … utility companies. With about 17,000 employees, it is one of the largest utility providers in the nation. The company offers a number of employee benefits including a 401(k) plan. Tibble and several other plan members sued Edison claiming that the company breached its duties under ERISA by offering over-priced mutual funds in its plan when less…

    Due Diligence- 34 readers -