401(k):
A 401(k) is a retirement savings and investing plan that employers offer. A 401(k) plan gives employees a tax break on money they contribute. The name 401(k) comes from the section of tax code ---subsection 401(k) ---that established this type of plan.
How does it work?
401(K) contributions by employees are automatically withdrawn from the employee’s paycheck and invested in funds of the employee’s choosing (from a list of available offerings). Employees contribute money to an individual account by signing up for automatic deductions from their paycheck. Depending on the plan type, the tax break comes either when you contribute money or when you withdraw it in retirement. 401(k) accounts have an annual contribution limit of $22,500 in 2025 for employees under the age of 50 and additional $7,500 for employees aged 50 and older (Additional $2,500 can be contributed if between 60 and 63). Please refer to the plan Summary Plan Description or give us a call to review if the plan offers any matching.
How do I sign up?
You can sign up to participate in your company’s 401(k) by signing up through your 401(k)-provider dashboard (see links below). If you have any questions, please contact us using the information above. Topics we would be happy to assist with are:
How to enroll in the 401K?
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How to rollover from an existing 401K into the Links Healthcare Group 401K
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How to roll over out of the 401K to a new employer
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Salary deferral
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Limits on contributions
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Benefits of contributing to a traditional OR Roth IRA
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Available investments in the plan
Paychex: www.paychexflex.com
401Go: https://app.401go.com/accounts/login
ADP: https://www.adp.com/logins.aspx
The Principal: https://www.principal.com/landing-page/welcome-principal
Nesteggs: https://egg.retirement.schwabrt.com/participant/
Vestwell: https://signin.vestwell.com/
Rollover Options
Please send over your most recent statement and one of our advisors will review it and reach out to you and explain your options. It may be advisable to keep the plan where it is, roll the funds to an IRA, move to your new employer’s 401(k), or cash out. We will review suitability by looking at cost comparison, investment options, accessibility, and ease of access.