Frequently Asked Question

April 05 2006 | Filed Under ยป ,

I am 61 years old and would like to contribute to my employer's 401(k) plan. Is there an age limit?

There is no age limit. As long as you are still employed by the company that sponsors the 401(k) plan, you may participate in the plan and make contributions.

Be sure to check with your employer about financial planning services. Many companies offer professional financial planning services to their employees at no cost. A financial planner will assist you in making appropriate investments for your 401(k) plan assets, and may even provide additional services that could be helpful to you.

For more on the subject, read the 401(k) and Qualified Plans Tutorial.

This question was answered by Denise Appleby
(Contact Denise)

by

Denise Appleby

Denise Appleby
Denise Appleby is founder and owner of Appleby Retirement Consulting,which provides technical consultation, content, coaching, writing, editing and training services on related topics.


With more than 14 years of experience in the IRA and defined-contribution plans fields, Appleby has held several senior retirement-plan related positions with Pershing LLC, which included vice president of plans products and services, retirement plans manager, trainer, training manager, compliance consultant, technical help desk manager and writer.
Sponsored Links
Last Questions Asked:
Bank Rates
Product Today Last Wk
$10K MMA 0.50% 0.51%
MMA 0.45% 0.46%
6 Month CD 0.46% 0.47%
1 Year CD 0.70% 0.75%
5 Year CD 1.46% 1.47%
1 Year Jumbo CD 0.66% 0.67%
Rate data provided by Bankrate
Product Today Last Wk
$30K HELOC 4.60% 4.59%
$30K Home Equity Loan 5.74% 5.75%
$50K Home Equity Loan 5.45% 5.46%
$50K HELOC 4.24% 4.24%
$100K Home Equity Loan 5.41% 5.41%
$100K HELOC 4.13% 4.13%
Rate data provided by Bankrate
Product Today Last Wk
30 Year Fixed 3.81% 3.75%
15 Year Fixed 3.12% 3.03%
1 Year ARM 3.54% 3.53%
30 Year Fixed Jumbo 4.38% 4.38%
5/1 ARM 2.67% 2.68%
3/1 ARM 2.69% 2.64%
Rate data provided by Bankrate
Product Today Last Wk
60 Month Used Car Loan 4.51% 4.51%
48 Month Used Car Loan 4.35% 4.35%
48 Month New Car Loan 3.24% 3.24%
36 Month Used Car Loan 4.35% 4.36%
36 Month New Car Loan 3.12% 3.13%
60 Month New Car Loan 3.35% 3.34%
Rate data provided by Bankrate
Partner Links