401(k) FAQs

QNEC stands for Qualified Nonelective Contributions. It’s a special type of contribution that employers … Read more

QNEC, or Qualified Non-Elective Contribution, is a special type of contribution employers can make … Read more

Considering transferring your 401k funds into an indexed universal life (IUL) account? It’s important … Read more

The penalty for withdrawing funds from a 401k account before the age of 59½ … Read more

When calculating Adjusted Gross Income (AGI), 401k contributions are deducted. This means that the … Read more

401k contributions are deducted from your paycheck before taxes are taken out. This means … Read more

Withdrawing money from your 401(k) before you reach the age of 59½ typically results … Read more

If you contribute more than the allowed limit to your 401k, you’ll face extra … Read more

To take money out of your Transamerica 401k plan, you can initiate a withdrawal … Read more

When you leave your job, any unvested portion of your 401(k) account is typically … Read more