A 401k plan is a popular retirement saving account. It allows employees to contribute pre-tax dollars from their salary, which can grow tax-free until they retire. However, some circumstances may arise where an employee may consider transferring their 401k balance.
Within the next few days, President Biden is expected to sign the $1.7 trillion federal spending bill. Includes numerous amendments to retirement plans. Making it more straightforward for businesses to provide financial aid for employees to set up savings accounts, help with the repayment of student loans, and expand retirement plan eligibility to part-time workers.
Attempting to save for retirement can feel like pushing a large boulder up a steep slope. If this sentiment becomes more apparent as the retirement years approach. You aren’t alone. Numerous Americans claim to have no retirement savings and are anxiously searching for solutions to increase their finances.