American Funds PlanPremier401k 2.7.0

American Funds PlanPremier401k is a retirement plan offered by Empower Retirement, LLC that allows employees to save for retirement through their employer.

Employees can contribute a portion of their salary to their American Funds PlanPremier401k account, which is then invested in a variety of funds to grow over time for retirement.

Benefits include tax advantages, employer contributions (if offered), investment options, and the ability to save for retirement with ease through automatic payroll deductions.

Yes, employees can typically choose from a selection of investment options within the plan, including various American Funds mutual funds.

Yes, there may be management fees, administrative fees, and investment fees associated with the plan, which can vary depending on the specific investments chosen.

The minimum contribution required may vary depending on the specific plan set up by the employer in conjunction with Empower Retirement, LLC.

Employees may be able to take loans or withdrawals from their account under certain circumstances, although this may have tax implications and impact long-term growth.

Vesting schedules can vary but typically there is a period of service required before employees become fully vested in any employer contributions made to their account.

In many cases, employees may be able to rollover funds from another retirement account into their American Funds PlanPremier401k account to consolidate assets.