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New york life 401k login1/15/2024 Taxed based on the type of contribution(s)ġ0% penalty for distributions before age 59½ Here’s a quick side-by-side comparison of the different contribution types. There is no "wrong" type of contribution, and the only "right" type is what works best for you. The type of contributions you make to the 401(k) Savings Plan depends on your savings goals and your preference for when you want to pay taxes on contributions and their earnings. Learn about how to get the most from your 401(k) Savings Plan. However, be sure to consult with a financial or tax advisor to understand the tax implications before making a conversion. You can convert all or a portion of your existing 401(k) Savings Plan balances to a Roth account (called an "in-plan conversion"). If you think you'll be in a lower tax bracket when the money comes out, pre-tax contributions might make more sense. In simple terms, if you think you might be in a higher tax bracket in the future when you take the money out, Roth contributions can be appealing. It comes down to your tax bracket and whether you prefer a tax savings now or tax-free income during retirement. *You must be at least age 59½ (or disabled) and the Roth account must be at least five years old at distribution. The total of your Roth 401(k) and pre-tax 401(k) contributions can't exceed this limit. Roth contributions are subject to the same annual limit as pre-tax contributions. This means tax-free income in retirement-you don’t owe any taxes when you receive a qualified distribution* from your Roth account. Roth contributions are different from pre-tax contributions because they're taxed at the time you make them. Learn about all your 401(k) contribution options by clicking on the next section: "Understand your contribution options". When your new password setup and verification is complete, click Continue located at the bottom right of the page.Roth contributions provide another way the 401(k) Savings Plan can help you prepare financially for your future- if they're a good fit for you. Why is there a red X next to the Verify New Password field? You will see a red X next to the Verify New Password field until it exactly matches your new password. Why is there a red X next to my New Password? You will see a red X next to the New Password field until your password meets all requirements. Reenter the same password into the Verify New Password field.Ī green check mark next to the password fields indicates a valid password. Your password is not case sensitive and must beĨ-20 characters long and contain at least 1 number(s),Įnter a password into the New Password field. This is the new password you will use each time you access your MainStay Funds account online. Please enter your Account Number exactly as it is displayed on your Account Statement. If you forgot your password, please click Forgot/Reset Password below the password field and follow the instructions on the Account Access: Forgot/Reset Password page. © New York Life Investment Management LLC. Please read the prospectus or summary prospectus carefully before investing. The prospectus or summary prospectus contains this and other information about the investment company. Investors are asked to consider the investment objectives, risks, and charges and expenses of the investment carefully before investing. NYLife Distributors LLC is a Member FINRA/ SIPC.įor more information about MainStay Funds®, call 80 for a prospectus or summary prospectus. The MainStay Funds® are managed by New York Life Investment Management LLC and distributed through NYLife Distributors LLC, 30 Hudson St., Jersey City, NJ 07302, a wholly owned subsidiary of New York Life Insurance Company. New York Life Investments, an indirect subsidiary of New York Life Insurance Company, New York, New York 10010, provides investment advisory products and services. New York Life Investments is a service mark and name under which New York Life Investment Management LLC does business.
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