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401k, 403b, 457b & Rollover Services

Trusted - Single-fee Investment Management Services

1 h
1% - no commissions
Phone

Service Description

401k, 403b, 457b & Rollover Services 401k A 401(k) plan is a workplace retirement account that's offered as an employee benefit. The account allows you to contribute a portion of your pre-tax paycheck to tax-deferred investments. This reduces the amount of income you must pay taxes on in that year. For example, you'd be taxed on $70,000 if you earned $75,000 and contributed $5,000 to your 401(k). Investment gains grow tax deferred until you withdraw the money in retirement. If you withdraw funds from the plan before age 59 1/2, however, you could pay a 10 percent penalty and the withdrawal would be subject to federal and state income taxes. Some plans offer 401(k) loans, however, if you find yourself in a cash emergency. Investment choices for these types of plans are often limited, and management and administrative fees can be high. The IRS imposes contribution limits per year, although limits for 401(k) plans are more generous than those for other plans: $19,000 in 2019, up from $18,500 in 2018. This increases to $25,000 if you're age 50 or older. 403b and 457b plans Both plans are similar to 401k. 403b is for non-for-profit employees. 457b are for government workers, no withdrawal penalty and have better catch up contributions. Rollovers You can only move your current or past employer's 401k to a Rollover account. If you are a job-changing employee and find yourself in this situation where you have to decide what to do with an old retirement plan, make sure you take your money with you by creating a HYA Rollover Account.


Contact Details

4127422011

huma@hyafinancial.com

#8282 805 Glenburnie Road, Richmond, VA, USA


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Vcard  *   Email:  huma@hyafinancial.com   *    Phone:  804-456-4949

 

805 Glenburnie Road, No. 8282, Richmond, VA 23226

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Map *    Virginia Corporation   *

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HYA Financial Corporation is a Registered Investment Adviser. This website is only intended for clients and interested investors residing in states in which the Adviser is qualified to provide investment advisory services. Please contact HYA Financial at 412-742-2011 to find out if the we qualify to provide investment advisory services in the state where you reside. HYA Financial does not attempt to furnish personalized investment advice or services through this website. Past performance is no guarantee of future results. ADV-Part 2A-Brochure.

This website is operated and maintained by HYA Financial an is Registered Investment Advisor.

Unless otherwise specified, all return figures shown above are for illustrative purposes only, and are not actual customer or model returns. Actual returns will vary greatly and depend on personal and market circumstances. Investments: Not FDIC Insured • No Bank Guarantee • May Lose Value. Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Before investing, consider your investment objectives and HYA Financial charges and expenses. HYA Financial services are designed to assist clients in achieving discrete financial goals. They are not intended to provide comprehensive tax advice or financial planning with respect to every aspect of a client's financial situation and do not incorporate specific investments that clients hold elsewhere. For more details, see our Form ADV Part 2 and other disclosures. Past performance does not guarantee future results, and the likelihood of investment outcomes are hypothetical in nature. Not an offer, solicitation of an offer, or advice to buy or sell securities in jurisdictions where HYA Financial is not registered.

 

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At certain places on our website we offer direct access or ‘links’ to other Internet websites. These sites contain information that has been created, published, maintained or otherwise posted by institutions or organizations independent of HYA Financial. HYA Financial does not endorse, approve, certify or control these websites and does not assume responsibility for the accuracy, completeness or timeliness of the information located there. Visitors to these websites should not use or rely on the information contained therein until consulting with an independent finance professional. HYA Financial does not endorse or recommend any commercial product or service described at these websites.

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