Your First 401(k) or IRA: The Questions, the Forms, the Match
How a match formula works, vesting, traditional versus Roth, the enrollment forms in order, rolling over an old plan and a one-page action list. No investment picks.
By Whole Life HQ4 parts · about 4,500 words · printable · read online
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OpenWho it's for
New hires and first-time savers who have been handed a retirement plan form and want the match, vesting and the enrollment choices explained plainly, with no investment picks.
What you receive
- 4 written parts, about 4,500 words
- How a match formula works, with a filled-in example and seven questions for HR
- Vesting, traditional versus Roth, the default investment and beneficiary forms, step by step
- IRAs, rolling over an old plan, early-withdrawal rules and a one-page action list. No investment picks
4 printable pages, in reading order
- Part 1: What a 401(k) and an IRA are
- Part 2: The match and the plan rules
- Part 3: The enrollment forms, step by step
- Part 4: IRAs, old accounts, withdrawals and your action list
See inside
The first 4 pages, as they print.
Look inside
The first page, word for word. 4 printable pages in total.
Part 1: What a 401(k) and an IRA are
General money education, not financial advice. This guide explains how workplace retirement plans and individual retirement accounts (IRAs) work in the United States, and which questions to ask. It does not tell you how much to save, which funds to choose or whether to pick one account over another. Tax rules and limits change every year, so check irs.gov and your plan's own documents for current figures.
The first time you are offered a retirement account, you may be handed a form full of words you have never used. That is normal, and it is not a test. This guide gives you the questions to ask, the forms in the order you will meet them, and a plain explanation of the match, so you can decide for yourself without having to rely on guesses.
How to use this guide. Part 1 explains the two kinds of account. Part 2 is about the employer match and how to read your plan's rules. Part 3 walks through the enrollment forms and the traditional versus Roth choice, as ideas rather than recommendations. Part 4 covers IRAs, old accounts, withdrawals and a one-page action list. A made-up worked example runs through the guide. Print the sheets or fill them in on screen.
What is in each part
- What a 401(k) and an IRA are
- The match and the plan rules
- The enrollment forms, step by step
- IRAs, old accounts, withdrawals and your action list
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4 printable pages: see the list
- Part 1: What a 401(k) and an IRA are
- Part 2: The match and the plan rules
- Part 3: The enrollment forms, step by step
- Part 4: IRAs, old accounts, withdrawals and your action list
They open in your library, and you can print them, once they are yours.
Who wrote it
Written by the Whole Life HQ team.
Not yet reviewed by an outside expert.
We plan to ask a finance educator to review it. Until then it is general information, not professional advice.
General education, not financial, tax or legal advice. For decisions about your own money, talk to a qualified professional.
How you get it
- In your libraryAfter you pay, it is in your library straight away.
- Any devicePhone, tablet or computer. Print it if you like paper.
- Yours to keepIt stays in your account, and you can come back any time.
