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View Full Version : I can get onto Disneys 401K!



BevW
13-03-2009, 12:05 AM
I received something in the mail back in December, but since I haven't been here to post, I'll post it now! I can join and pay into Disney's 401K retirement plans! I'm so excited! But with the amount I make with Disney, I'll have to wait until I'm 200 to retire.
I'm just excited that I can even DO this. Yes, I'm going to put in for the max amount and Disney will match up to 4%. It so doesn't make any sense to me, but Rick says I should do this.
Wooooohoooooo!!! I love being a Disney employee! Now...where are my tickets! :lol:

Taja
13-03-2009, 03:54 PM
:thumbsup:

Yep! Rick is right! Even though it's a small amount, any time the employer matches your contribution, it's a good thing.

Qualification: It's usually a good thing. Depends on the company. Some small, closely-held corporations that invest the 401K funds only into their own stock can be an exception. :rollelyes:

BevW
14-03-2009, 12:49 AM
:lol: I'm just excited about the whole "they kept me!" deal. But I knew they were going to back in December. the whole "BUY the SHOES!" deal. :lol:

josh.p.
15-03-2009, 11:40 AM
what is a 401K scheme?

Taja
15-03-2009, 02:33 PM
what is a 401K scheme?

A 401K is a qualified retirement programme funded with pre-tax $$. Specific rules depend on the company/organization, but the IRS rules are a % of pre-tax earning to a maximum percent/$ annually (it's varied over the years). Employers may or may not match the employees' contributions. Funds may be invested through a third party or in the company's own stock. Since contributions to the plan are pre-tax earnings and distributions are taxed during retirement, there's a bit of tax savings in there, as well as savings for retirement. There are penalties for early withdrawal.

It's generally considered to be favourable to contribute the maximum possible when an employer matches the contribution (even if not the maximum amount)--except if the corporation is closely-held and the funds are invested in their own stock. Then you have to decide how viable that investment is or if you prefer to invest in an IRA or Roth IRA, which are other retirement contribution programmes available to individuals.

Lots of different rules and reasons for electing one option over another.

josh.p.
15-03-2009, 05:30 PM
That sounds cool :yes: