|
gptkbp:instanceOf
|
Individual Retirement Account
|
|
gptkbp:allows
|
employee salary deferrals
tax-deferred contributions
|
|
gptkbp:annualContributionLimit
|
$22,500 for 2023
|
|
gptkbp:canBe
|
loans
hardship withdrawals
|
|
gptkbp:catchUpContributionLimit
|
$7,500 for 2023 (age 50 and over)
|
|
gptkbp:contribution
|
pre-tax
|
|
gptkbp:contributionsMayBe
|
gptkb:Roth_(after-tax)
|
|
gptkbp:country
|
gptkb:United_States
|
|
gptkbp:earlyWithdrawalPenalty
|
10% before age 59½
|
|
gptkbp:establishedBy
|
gptkb:Revenue_Act_of_1978
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
401(k) plan
|
|
gptkbp:mayBeAdministeredBy
|
third-party administrators
|
|
gptkbp:mayInclude
|
employer matching contributions
|
|
gptkbp:namedAfter
|
gptkb:Section_401(k)_of_the_Internal_Revenue_Code
|
|
gptkbp:offeredBy
|
employers in the United States
|
|
gptkbp:offers
|
various investment options
|
|
gptkbp:portable
|
can be rolled over to IRA or new employer's plan
|
|
gptkbp:provides
|
administrative fees
|
|
gptkbp:purpose
|
retirement savings
|
|
gptkbp:regulates
|
gptkb:Internal_Revenue_Service
gptkb:U.S._Department_of_Labor
|
|
gptkbp:relatedTo
|
gptkb:IRA
gptkb:403(b)_plan
gptkb:Roth_401(k)
|
|
gptkbp:subject
|
annual nondiscrimination testing
required minimum distributions (RMDs)
vesting schedules for employer contributions
|
|
gptkbp:withdrawalsAreTaxed
|
as ordinary income
|
|
gptkbp:bfsParent
|
gptkb:Employee_Retirement_Income_Security_Act_of_1974
gptkb:Section_401(k)
gptkb:Thrift_Savings_Plan
|
|
gptkbp:bfsLayer
|
6
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