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. What is the difference between a 401(k) plan and a 457 plan?

    Discover how 401(k) plans are privately offered employee retirement plans, while 457 plans are typically available to public ... Read Answer >>
  2. What's the difference between a 401(k) and a pension plan?

    Discern the differences between 401(k) plans, in which employees assume the market risk, and pension plans, in which the ... Read Answer >>
  3. Can I roll my 401(k) and/or IRA funds into a more liquid investment fund without ...

    Choosing your retirement plan investments requires the assistance of an expert who is able to analyze your options and to ... Read Answer >>
  4. How do you rollover/transfer a 401(k) to another 401(k)?

    Understand the process of transferring your old 401(k) account into your new employer-sponsored plan, and learn the benefits ... Read Answer >>
  5. What happens to my 401(k) plan if I switch jobs?

    Roll over your old 401(k) plan to your new 401(k) plan or an IRA, cash it out, or leave it alone. Which option is right for ... Read Answer >>
Related Articles
  1. Retirement

    The Basics Of A 401(k) Retirement Plan

    This plan has become one of the most popular retirement options. Find out why.
  2. Retirement

    Introduction To SIMPLE 401(k) Plans

    Learn about the features and benefits of the plan that is a cross between a SIMPLE IRA and a traditional 401(k) plan.
  3. Financial Advisor

    What To Do With Forgotten 401(k) Plans

    Job hopping is more acceptable, but as a result, workers are leaving 401(k) plans behind. In order to maximize savings that may not make the most sense.
  4. Financial Advisor

    Helping 401(k) Plan Sponsors with Costs

    Even the most savvy advisors and plan sponsors have trouble navigating 401(k) fees and costs. Monitoring them and working with plan providers can help.
  5. Retirement

    The Danger Of A 401(k) Flameout

    It looks like the 401(k) has failed, but what are the repercussions, and how can you protect yourself?
  6. Retirement

    How Betterment Eliminated Third-Party Admins to Cut Costs

    Once Betterment decided to offer 401(k) plans, the robo-advisor decided to use one of its strongest asset – algorithms – to make its offerings more affordable.
  7. Investing

    401(k) Lawsuits: How Employers Are Protecting Themselves

    Some companies are making it harder for employees to sue over retirement fund problems. Here is what you need to know about the trend.
  8. Investing

    5 Signs That You Have a Lousy 401(k) Plan

    Knowing whether a 401(k) plan is good or not so good is important. This will help participants decide how much to invest and when to demand improvements.
  9. Retirement

    SIMPLE IRA Vs SIMPLE 401(k) Plans

    See the differences that may cause an employer to choose one plan over the other.
RELATED TERMS
  1. 401(k) Plan

    A qualified plan established by employers to which eligible employees ...
  2. Plan Sponsor

    A designated party, usually a company or employer, that sets ...
  3. Qualified Retirement Plan

    A plan that meets requirements of the Internal Revenue Code and ...
  4. Roth 401(k)

    An employer-sponsored investment savings account that is funded ...
  5. Tax-Sheltered Annuity

    A type of annuity that allows an employee to make contributions ...
  6. DB(k) Plan

    A retirement plan that combines some of the characteristics of ...
Hot Definitions
  1. Trickle-Down Theory

    An economic idea which states that decreasing marginal and capital gains tax rates - especially for corporations, investors ...
  2. Derivative

    A security with a price that is dependent upon or derived from one or more underlying assets.
  3. Fiduciary

    A fiduciary is a person who acts on behalf of another person, or persons to manage assets.
  4. Sharpe Ratio

    The Sharpe Ratio is a measure for calculating risk-adjusted return, and this ratio has become the industry standard for such ...
  5. Death Taxes

    Taxes imposed by the federal and/or state government on someone's estate upon their death. These taxes are levied on the ...
  6. Retained Earnings

    Retained earnings is the percentage of net earnings not paid out as dividends, but retained by the company to be reinvested ...
Trading Center