Funding a Roth IRA and Roth 401k for a 19 yo making $6,000/year. $12,000?

[Hank]

I know from a professional TPA acquaintance that this occasionally blows employer's minds. There is no 401k minimum eligibility age unless the plan has elected such an eligibility restriction.

Even minors can enroll with UTMA account registration. This is why most, but not all plans will at least have an age 18 restriction.

Even if a 401k plan has no age restriction, expect HR to say it is not allowed. They are wrong and it would be a plan error to not follow plan provisions.

If doctors were wrong as often as HR is wrong, it would drop life expectancy in this country by at least eight years.

[jfoxcpacfp]

If doctors were wrong as often as HR is wrong, it would drop life expectancy in this country by at least eight years.

How do we know they’re not🧐?

[Tim]

If doctors were wrong as often as HR is wrong, it would drop life expectancy in this country by at least eight years.

HR typically outsources benefit plans. Not many have actual training or certifications. Just CE credits and a few bids.

[Dr. K]

Thank you all, especially SR, for your responses. I checked the plan details and the 401k enrollment requirements for part-time employees are:
*Age 19 or older.
And to receive matching contributions from employer (7%):
*Be employed on the last day of the fiscal year. (Can participate even if do not qualify for match.)

We have been funding a our son’s Roth IRA since he started working at age 16. This double up tactic of IRA/401k will help create quite a pot of money by the time he retires.