What is the Eligibility for a 401k Retirement Fund?

While the exact details vary from company to company, there are a few basic rules that will determine whether or not you are eligible to being investing money for your retirement into a 401k Plan:

You must be employed by a company that actually participates in the 401k program and has the resources to administer and monitor your fund.
You must have been in the employ of said company for a certain amount of time, not to exceed one year.
Regardless of employment status or standing within company, you must be over 21 years of age.

*For more information on the exact details of your company's 401k plan, ask your plan administrator or human resource representative for a Summary Plan Description (SPD.)

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