Finance Quick Answers
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
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
4) Check your account balance regularly and save your
statements. If you find any discrepancy, take to your
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
Sandra McKinnon, Consumer & Family Economics Specialist, University of Missouri Extension
Cynthia E. Crawford, Ph.D., Consumer & Family Economics Specialist, University of Missouri Extension
Last update: Monday, July 28, 2008