401(k)
clawhammer
07-13-2005, 07:38 PM
Today I received a job offer. In it they said that I am not eligible for the company's 401(k) plan because I'm 18 and have to be 21 to be eligible. Is this a federal law or just the company's policy?
twospirits
07-13-2005, 08:24 PM
According to this site (http://www.401khelpcenter.com/). Yes they can. it states "The company sets the eligibility requirements, within certain guidelines, at the time the plan is established" That sucks. BT>W that site also has a forum that might answer more specific questions relating to 401ks.
TS out
TS out
clawhammer
07-13-2005, 09:15 PM
Thanks. So it's a company policy, not a federal law, right?
Oz
07-13-2005, 09:37 PM
Thank Christ it's legislation in Australia.
YogsVR4
07-14-2005, 10:03 AM
Yes - its company policy. Its also good to know that you're interested in your retirement already. To many people wait to damn long before even giving it a thought.
drewh4386
07-14-2005, 10:36 AM
the sooner you invest, the more money you have later. Believe me. My old job stated 21 for the minimum age. Now I dont care.
fredjacksonsan
07-15-2005, 08:28 AM
:thumbsup: on starting early!
Right. So figure out how much you could contribute to the 401(k) and send the same amount each payday to a solid mutual fund or other investment. That way you won't miss out entirely on it, and will be used to saving that amount when you do become eligible.
Right. So figure out how much you could contribute to the 401(k) and send the same amount each payday to a solid mutual fund or other investment. That way you won't miss out entirely on it, and will be used to saving that amount when you do become eligible.
JackGivens
07-19-2005, 11:31 AM
That sucks that you aren't eligible. i wonder if they match once you are?
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