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401(K) PLAN

Upton Investment Group. 401(K) PLAN. OVERVIEW. What is it? How Does It Work? Loans/Withdrawals A Great Way to Save Managed by Professionals. WHAT IS IT?. Type of retirement plan for employees of participating companies Save and invest money deducted from paycheck

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401(K) PLAN

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  1. Upton Investment Group 401(K) PLAN

  2. OVERVIEW • What is it? • How Does It Work? • Loans/Withdrawals • A Great Way to Save • Managed by Professionals

  3. WHAT IS IT? • Type of retirement plan for employees of participating companies • Save and invest money deducted from paycheck • Established by Federal Government in 1981

  4. HOW DOES IT WORK? • You decide how much to deduct from each paycheck • There is a legal maximum • Deductions are not taxed • You decide how to invest the money

  5. LOANS/WITHDRAWALS • Depending on your 401(K) plan rules, you can borrow money from your account • Withdrawals are restricted • Money is fro retirement, after age 59 ½ • Withdrawals are subject to a 20% tax • Possible additional 10% early withdrawal penalty

  6. A GREAT WAY TO SAVE • Increase your take-home salary

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