Why did my employer delay 401(k) distributions?

June 30, 2024 No Comments

A: Your employer or the plan administrator for the 401(k) plan should have provided you with a copy of the 401(k)’s summary plan description (SPD). If you can’t find your copy, contact your employer and ask for a replacement. A copy of the plan’s SPD

Why did my employer delay 401(k) distributions?

July 7, 2024 No Comments

Why is my 401(k) not FDIC-Insured?

June 30, 2024 No Comments

A: 401(k) plans are not FDIC-insured because they are typically composed of investments rather than deposits. The Federal Deposit Insurance Corporation (FDIC) covers deposits, not investments. Investments are riskier and carry the potential for loss of principal. Most 401(k) accounts are composed of investments. However,

Why is my 401(k) not FDIC-Insured?

July 7, 2024 No Comments

Why is Social Security running out of money?

June 30, 2024 No Comments

A: On August 14, 1935, U.S. President Roosevelt signed into law the Social Security Act.Originally implemented to assist older Americans by paying them a continuing income upon their retirement, the program was later amended to extend benefits to the spouse and minor children of retired workers,

Why is Social Security running out of money?

July 7, 2024 No Comments

Why were 401(k) plans created?

June 30, 2024 No Comments

A: As the most widely used and well-known retirement savings plans in the United States, 401(k) plans were the brainchild of benefits consultant Ted Benna. In 1980, Benna noticed that the rules established in the Revenue Act of 1978 made it possible for employers to

Why were 401(k) plans created?

July 7, 2024 No Comments

Why would someone change their Social Security number?

June 30, 2024 No Comments

A: In general, the Social Security Administration, or SSA, does not encourage citizens to change their Social Security numbers, or SSNs. However, exceptions are made under certain circumstances. Victims of identity theft or abuse are the most likely candidates for new numbers. Identity Theft Identity

Why would someone change their Social Security number?

July 7, 2024 No Comments

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