|General Description||A flexible plan offering provides the highest level of employee pre-tax contributions, a wide range of employer contribution options, and an optional loan provision.|
Wells Fargo offers an all-in-one bundled solution including:
|Eligibility to Contribute||Eligibility requirements are set at the time the plan is established.|
|Maximum Annual Contribution|
Your plan may allow you to allocate part or all of your deferral to a Roth 401(k). Roth 401(k) salary deferrals are not tax deductible but contributions and earnings grow tax deferred and may be eligible for income tax free withdrawals if held for five years and withdrawn after age 59 ½.
|Taxation of Earnings and Withdrawals||Pre-tax contributions and earnings are taxed as ordinary income when withdrawn.|
|Types of Investments||Broad array of mutual funds.|
|Withdrawal Penalties||10% IRS early withdrawal penalty if withdrawn before age 59 ½ unless exception applies.|
|Required Withdrawals||Must begin at age 70 ½ for those no longer working for the employer. (Note some exceptions may apply.)|
|Deadline to Set Up and Fund|
|Commissions and Fees||Varies by mutual fund family.|
Learn more about saving for retirement; contact a Wells Fargo financial professional today!
Financial Advisors and Investment Professionals are registered representatives of Wells Fargo Advisors, LLC.
Brokerage products and services including WellsTrade are offered through Wells Fargo Advisors. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, (Members SIPC), non-bank affiliates of Wells Fargo & Company.
Wells Fargo Adviosrs, LLC (member SIPC) does not provide tax or legal advice. Please see your tax or legal advisor(s) to determine how this information may apply to your own situation.
Information published by Wells Fargo Bank, N.A., Wells Fargo Advisors, or any of its affiliates as part of this web site is published in the United States and is intended only for persons in the United States.
Investment products and services are offered through Wells Fargo Advisors. Wells Fargo Advisors is the trade name used by two separate broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.