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401k plan   401   06/28/2018 09:52 PM  

Hi All, Need some suggestion. I'm in Visa and don't have plans to settle here.
1) Can I enroll in 401k plan? Is that tax benefital?
2) If I don't change my current company after going back to India, is it necessary to maintain a bank account in us if I need to take money back?

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Re: 401k plan   Abc   06/28/2018 10:11 PM  

401k is through employer. You can always transfer funds to your personal IRA account and then withdraw.note taxes are high if you withdraw before retirement

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Re: Re: 401k plan   401k   06/29/2018 12:53 AM  

Thanks

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Re: 401k plan   401KRP   06/29/2018 10:21 AM  

Go through this, it has all the information.

Thanks

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Re: Re: 401k plan   401KRP   06/29/2018 10:22 AM  

https://www.attainfire.com/2017/12/04/114/

Sorry missed to add link.

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Re: Re: Re: 401k plan   401k   06/29/2018 08:43 PM  

Thanks!

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Re: 401k plan   401K   06/29/2018 10:57 PM  

One thing to be noted there is there will be matching contribution by the employer. If you have that matching contribution there will be some maximum cap so you can contribute to that amount and you get same amount from your employer at free which is 100% return. while going back even if you withdraw the tax rate will be max 30% but you have 70% extra...

Note all these are applicable only there is matching contribution by your employer..

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Re: Re: 401k plan   Retirement Planner   07/02/2018 01:46 PM  

If you need any help to understand which funds you need to invest in as part of your 401k plan choices, you can download the free Plootus app on your phone. It will tell you how to pick.

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