Entering a 401k Plan
Here we will show you an example of how to enter a client's 401k plan.
Click the plus sign from the dashboard and select Retirement Plan.
Enter The Basic Details of your client's 401k Account (example below)
in the section below
If there are Employer Contributions
Click Employer Contribution: Select “Yes” if employer does offer contributions.
Employer Contribution Type: Select “Matching” since if Employer offers “Matching” contributions.
Matching Contribution: Enter the % of the match, If the employer has stated that they will match contributions up to a % of income. (e.g. 6%)
Matching Income: Leave this at 100%. if employer will match 100% of the client's contributions.
Click Save. Note the software will automatically assume that the client will stop contributing to their 401k at 65 when they are scheduled to retire.
Note: If the client is not currently taking full advantage of their employers matching contributions. This may make a good presentation opportunity later using “What If” plans if they are facing a shortfall in retirement.
Once you click save you will be returned to the dashboard screen where you will now be able to view and access the 401K from the Retirement section. As seen below.
