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What are some tips to help me keep track of my 401(k) plan?

Wouldn’t it be simpler if you didn’t have to worry about retirement? But we all do. A great many Americans save for their golden years through their 401(k) plans at work. Bottom Line Personal Newsletter gives you these tips on how to keep track of those precious dollars:

1) Make sure the amount withheld matches your contribution to the plan.

2) Make sure your employer’s matching contribution is credited properly.

3) Find out how often your contributions are deposited. By law, your employer has 15 business days after the end of the month to deposit your contributions.

4) Check your account balance regularly and save your statements. If you find any discrepancy, take to your plan administrator.

5) Make sure you receive your account statement when it is due. If you are to receive one quarterly and haven’t, ask why.


Source: Bottom Line Personal




Written by:
Sandra McKinnon, Consumer & Family Economics Specialist, University of Missouri Extension

Cynthia E. Crawford, Ph.D., Consumer & Family Economics Specialist, University of Missouri Extension










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Last update: Monday, July 28, 2008




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