Employees can contribute up to $18,500 to their 401(k) account or $24,500 if at least 50 years of age. If you are a highly compensated employee (defined as those that earn $120,000 or more a year), the amount you may put in may be less that these limits based on government testing guidelines. Any employer matching contributions and profit sharing will be in addition to your own personal contributions.
Most experts suggest contributing 10% or more of your salary to your retirement plan in order to build a meaningful nest egg for retirement.
If you still have questions about this topic or want additional information about ShareBuilder 401k, please contact our Customer Care team at 1-800-943-6108. Our agents are available from 9am - 8pm (Eastern Time), Monday-Friday, except for market holidays.