401(k) Education
Webinars
So often when we talk about health, we tend to limit the conversation to our physical wellbeing, but let’s face it, feeling financially fit is important, too. The Pearson 401(k) is an important benefit that can help you reach your financial goals. The plan offers various savings features that may not be available through other savings opportunities. Plus, it’s easy to contribute to the Plan through automatic payroll deductions. Through the Plan, there are three (3) ways to save:
Pre-tax: You can contribute on a pre-tax basis subject to contribution and compensation limits set by the IRS. Withdrawal of contributions and earnings are taxed. Distributions may be penalized if taken before age 591/2 unless you meet one of the IRS exceptions.
Roth: You can contribute on an after-tax basis (subject to compensation limits). Withdrawal of contributions and earnings are not taxed as long as the account has been held for five (5) or more years, the distribution is being made because of disability or death or being taken after age 591/2, or the distribution is considered qualified by the IRS.
After-tax: You can contribute on an after-tax basis. Withdrawal of contributions is not taxed; withdrawal of earnings is taxed. There are no compensation or contribution limits.
To learn more about the 401(k), register for one of the monthly education sessions which covers plan highlights, website tools, app features and so much more! Education sessions are held every third Wednesday of the month.
