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Basic 401k Info

What Is a 401k? What is a 401k Plan? 401k Fund Eligibility 401k Investment Opportunities 401k Advantages Frequently Asked 401k Questions Individual Retirement Accounts (IRA's) IRA Eligibility Types of IRAs Traditional vs Roth IRAs

What is the Eligibility for a 401k Retirement Fund?

The basic criteria for becoming eligible for a 401k Retirement Fund are simple. First, you must be employed by a business or company that currently offers the 401k Retirement Plan. Another requirement is that you cannot simply begin activity in the 401k program as soon as you join a company. There will be a time limit imposed during which you are not elligible. It is never longer than a year. Finally, you must be over the age of 21, even if you are employed full time and receive other benefits.

There are many more rules that govern 401k's; they are generally outlined by your employer or in company literature. For the actual details of what is required of you before you become eligible for a 401k plan, inquire with the administrator of your plan or a represented from your company's Human Resources department for a Summary Plan Description (SPD).

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