Archived 401k plan question

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When does money start being taken out of your check for the 401k plan because I mine still has not taken any money out of the paychecks yet for that plan.
 
Have you worked a 1000 hours from start date yet?
From targetpayandbenefits.com:
Who is eligible?
You are eligible to participate in the TGT 401(k) after you
meet the following requirements:
• You are classified by Target as an employee; and
• You are age 18 or older; and
• You complete and have been paid for 1,000 or more
hours of employment; however, if you have one full
calendar year in which you have no hours of employment
and if you previously did not complete at least 1,000
hours of employment, then you must complete 1,000
hours of employment during any subsequent period of
employment without having another full calendar year in
which you have no hours of employment.

Once you are eligible you are automatically enrolled at a 5% (the maximum match) contribution, though you will definitely want to go in and change the distribution. There is no real incentive to get Target stock, and you would generally be advised against getting it at all. The managed funds should be fine for most people. Make sure you change the company match to your preferred fund otherwise I believe it defaults entirely to company stock.
 
Mine started coming out the pay cycle after I set it up. I wasn't automatically enrolled once I became eligible. Is this information the most recent? I'd been eligible for about 4 years before I signed up (last summer-ish)
 
Have you worked a 1000 hours from start date yet?
From targetpayandbenefits.com:
Who is eligible?
You are eligible to participate in the TGT 401(k) after you
meet the following requirements:
• You are classified by Target as an employee; and
• You are age 18 or older; and
• You complete and have been paid for 1,000 or more
hours of employment; however, if you have one full
calendar year in which you have no hours of employment
and if you previously did not complete at least 1,000
hours of employment, then you must complete 1,000
hours of employment during any subsequent period of
employment without having another full calendar year in
which you have no hours of employment.

Once you are eligible you are automatically enrolled at a 5% (the maximum match) contribution, though you will definitely want to go in and change the distribution. There is no real incentive to get Target stock, and you would generally be advised against getting it at all. The managed funds should be fine for most people. Make sure you change the company match to your preferred fund otherwise I believe it defaults entirely to company stock.


We are no longer able to get company stock via target 401k. They stopped letting you buy company stock a while ago now. Unless that has changed again and they didn’t tell us.
 
Mine started coming out the pay cycle after I set it up. I wasn't automatically enrolled once I became eligible. Is this information the most recent? I'd been eligible for about 4 years before I signed up (last summer-ish)

Yea you're definitely not automatically signed up for 401k. You have to go in and do it manually
 
We are no longer able to get company stock via target 401k. They stopped letting you buy company stock a while ago now. Unless that has changed again and they didn’t tell us.
I think you are correct.
From targetpayandbenefits page, today.
 

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