2 ms·
Are retirement plans coupled to employment? Neither social security nor 401Ks are, in that you can often keep and almost always rollover (to a personal) 401K w
by FakeComments 8y ago
Are retirement plans coupled to employment?
Neither social security nor 401Ks are, in that you can often keep and almost always rollover (to a personal) 401K when departing.
Pensions were, but as I understand it, those basically don’t exist anymore.
- nradov 8y agoYou can't really contribute to a 401(k) plan unless your employer sponsors one. When you leave the job you can roll it over to an IRA. Some independent contractors can contribute to an IRA, but it's inferior because the annual contribution limit is only $6000, and the income limits are lower. And of course employer matching contributions aren't available to independent contractors.
- mercutio2 8y agoIndependent contractors can contribute up to $43k to a solo-401k.