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New York Life 401K

401(K) plan is a retirement savings and investment plan which allows employees to contribute a portion of the funds, which their employer would have paid in their wages, to a tax-qualified retirement account, and a part of their wages so they take greater control over the income in their retirement. As participants contribute the funds pre-tax, they don't have to pay taxes on the portion of the funds that is contributed so they enjoy greater control over their retirement income. It is an alternative to the traditional retirement pension which was paid solely by the employers, and most employers like this plan because it cost less than the traditional pension plan. 401(K) money is portable and participants can take away with them when they change their jobs or company. Contributors can begin to withdraw funds on attaining the age of 59 1/2 years. However, there are severe restrictions for withdrawals before retirement and/or a 10% tax penalty will be charged to the participants for withdrawals before retirement.

New York Life 401K Rollover

When any employees change their jobs or switch employers for another,
one will have to sign a number of forms, and among the multitude forms, employees will have to sign one is to start contributing to a 401(K) plan. The 401(K) plan which one previously owned and offered by the previous employer will no longer be the same in the new company. As most retirement plans allow investing in many different kinds of instruments such as stock, mutual funds, money market funds and guaranteed investment funds, and pay pre-set interest rate, it is important that employees know and understand the different distribution options and their effect on their retirement savings.

New York Life's Rollover IRA program allows individuals to direct their distribution into investments thus helped address the issues of instruments selection and management of the portfolio. The Rollover IRA program offers mutual funds, stocks, CDs, and annuities that can help meet an array of financial objectives. New York Life professionally trained and experienced agents are available to help recognize the precise needs and can recommend with appropriate solutions. The company has a team of experienced retirement consultants from Retirement Consulting Group (RCG) who can help address anything about retirement planning. Individuals can contact New York Life RCG for all rollover and retirement related issues.

New York Life 401K Login

New York Life Retirement Plan Services, a division of New York Life Investment Management LLC, has provided a one stop convenient online service allowing retirement plan participants to access their plan right away online. Those already registered members can simply log on to http://www.bcomplete.com/ and sign in with their Social Security Number or User ID and can feel better about their retirement right away. Those not yet a member also can freely register to start getting the most out of it.

New York Life is committed to serving its customers with highest quality customer service. Individuals can contact the company customer care phone number 800-710-7945 and request the company to arrange an agent or consultant. For more details about 401K plan and its benefits and all other related information including New York Life Trust Company 401K, loan, QDRO, Staples 401K and more, please log on to the official website of the company.

Website: http://newyorklife.com/
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