The majority of employees are not taking advantage of their 401(k) plans to effectively fund their retirement. A surprising one-fifth of respondents believe that “very few” of their employees either are, or will be financially prepared for retirement, with 65 percent agreeing that only “some” employees will be prepared. At Fredrick James, we provide straightforward information on how to make the most of your 401(k) opportunities. We want you to be ready for your retirement years. With a traditional IRA, you can contribute if you (or your spouse) have earned income and are under age 70. However, your income and participation in an employer-sponsored retirement plan determine whether your contributions are deductible. With a Roth IRA, you may contribute to a Roth IRA if you have earned income and your modified adjusted gross income (MAGI) does not exceed $110,000.

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