FAQ - ANSWER
Question: What makes a good 401k?
Answer: Since your 401k plan is one of your most important retirement savings vehicles, you want it to be as good as possible. Here are the features that we think make a really good 401k plan. How does your plan compare?
- Immediate eligibility
- Valued daily
- Generous Employer match
- Maximum contribution can be made each year, i.e., the plan places no restrictions on the amount
- Low expenses or the plan sponsor pays most fees
- Both internet and voice access for checking performance, balance, making changes, etc.
- Name brand no-load mutual funds as investment options are offered
- At least 12 investment options available, including both passive (index) and active investment (actively managed) funds
- Loans and hardship withdrawals available
- Newsletters, fund prospectus, investment performance information and some type of education seminar and/or advice product offered
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