Anyone who has ever looked into retirement savings plans has likely heard of the 401k plan. This is because 401k plans are one of the best ways to save for retirement. Not everyone qualifies for a 401k plan, though, so it is important to understand the Internal Revenue Service guidelines for these plans. Not only that, but it is critical to know the 401k contribution rules that apply to this type of retirement fund, especially if you have more than one retirement account. Still, when comparing the 401k plan with other retirement plans, the 401k is almost more beneficial than any other account because you can contribute significantly more … [Read more...]