Can I refuse to participate in a profit sharing 401k and forbid any employer contribution under my social security number?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

Some companies have what is called "Automatic enrollment." Basically, with in so many days of your hire date they automatically enroll you into the 401k plan and place you in a default investment. You have the option to opt out of the automatic enrollment but, you do not have the option to "forbid" an employer to enroll you. Typically, if you're automatically enrolled and you neglect to opt out, You are not able to withdrawal the funds in the account until you're 59 1/2 years old or terminated. Keep in mind that some companies do automatic enrollment annually and just because you opt out once does not mean that's final. They're required to send you notification in the mail to make you aware of the automatic enrollment, so be sure not to through anything away without reading it.
1 person found this useful

What is the employer contribution for 401k?

That depends on the employer's plan provisions. Most match dollar for dollar up to a certain % (I have seen 2-6% from the employers I have worked with and for in the past)..

Do employers get paid on your 401k participation?

Sort of... Employers (generally regarded as highly compensated employees) are often not eligible to participate in the plan until the "non-highly" compensated employees con
In Uncategorized

Do employers contribute to social security?

They do in the UK. Employers pay National Insurance contributions -in addition to the contributions deducted from employees pay.