401k – A Basic Guide

Course Description:

This course will provide you with a basic understanding of 401k plans.  The material is designed for a beginner or novice; but the tables, terms and acronyms will be helpful to anyone involved in 401ks.

Understanding 401ks can provide a key (or a benchmark) to help you understand and remember the basics of other retirement plans, like SEPs, Defined Benefit plans, etc.
For example: You could remember the basics of a 'SIMPLE' plan by comparing it to a 401k in this way:
'A SIMPLE plan is like a 401k for small businesses, except there is no complicated plan document, no 5500 filing requirement, the annual limits are lower, and there are only two funding options for company contributions'.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Explain how a typical 401k operates.
• Understand who is eligible to participate in a 401k.
• Learn the 401k benefits.
• Understand the 401k administration expense and how much it costs and who pays the bill.