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

By Denise Appleby AAA
A:

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.
<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>



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



This question was answered by Denise Appleby
(Contact Denise)



RELATED FAQS

  1. Places where I can open an IRA Account?

    Open an IRA through brokerage firms, mutual funds, banks and other major financial institutions, or through large Internet ...
  2. What rate of return should I expect on my 401(k)?

    Learn what factors affect your 401(k) performance, and understand what a typical rate of return is for employer-sponsored ...
  3. How can an entrepreneur save for retirement?

    Learn about the retirement savings plan options for entrepreneurs and small business owners, including administration and ...
  4. What would privatized Social Security mean for Americans?

    Take a deeper look at how a privatized Social Security system would work, including looking at a real example that's existed ...
RELATED TERMS
  1. Self Invested Personal Pension (SIPP)

    A tax-efficient retirement savings account available in Great ...
  2. Reloaded

    A slang term meaning that a consumer who was previously defrauded ...
  3. Age Discrimination In Employment Act Of 1967

    A federal statute protecting "certain applicants and employees" ...
  4. Senior Move Manager

    Senior move managers (SMMs) help seniors downsize and relocate ...
  5. Elder Care

    Elder care, sometimes called elderly care, refers to services ...
  6. Eligible Transfer

    An IRS-allowed movement of assets into or out of an individual ...

You May Also Like

Related Articles
  1. Mutual Funds & ETFs

    Should GE Be Part of Your Portfolio?

  2. Retirement

    Top 10 Stocks for Retirement Portfolios

  3. Options & Futures

    Options and Roth IRAs: Do's and Don'ts

  4. Professionals

    Who Wants to be a 401(k) Millionaire?

  5. Professionals

    Are Longevity Annuities in 401(k)s a ...

Trading Center