Do you have a 401k or 403b?
 

Do you have either one of those at your job? How long have you had it?

I'm ashamed to say i havent signed up for it. In my defense, the first few years of working and having DACA, this is not something i knew to do. Didnt grow up being taught about this.

I should have signed up a few years ago atleast but i procrastinate alot. My company has a 403b since its non profit.

I think we qualify with DACA... just want to see if others have it. If i'm late to sign up, should i increase the amount to contribute to kind of catch up a litte?

We have to sit with a rep from the retirement company and they ask are you a us citizen which i'm not but i hate that theres never a clear way to explain this.

Re: Do you have a 401k or 403b?
 

I have 401K paying into an IRA and ROTH IRA... Most companies will match a certain percentage of contributions from your pay so essentially they're giving you free money.

DACA does not impact 401K so there is no issue there.

The amount you should contribute will depend on your retirement goals, how much your company matches, your everyday expenses, age, and what age you want to retire.

Re: Do you have a 401k or 403b?
 

I am literally going through this right now. The form is online and I just need to fill it out myself. It does ask if I’m a U.S. Citizen or a Non-Resident alien… but I’m concerned that our accountant will be able to see that information. It’s through a different company so I’m unsure… may need to call them.

In the eligibility form, it says NRA are eligible so I could just say I accidentally selected it while in a hurry? Blah.

Re: Do you have a 401k or 403b?
 

I signed up for 401K at my company. I don't remember being asked if I was a citizen when I enrolled, but that was 10 years ago. We 100% qualify with DACA. You can say you are not a citizen, but have a legal right to work. I don't think the rep will care about the details.

Re: Do you have a 401k or 403b?
 

Also keep in mind that many companies hire foreign workers and H1B.. It not strange that you are not a citizen

Re: Do you have a 401k or 403b?
 

Right, the issue is that I don’t want them to know I have DACA. So I wonder if only the company who handles the Simple IRA (ADP) will pass on the info to my company and/or our accountant will be able to see it themselves.

Re: Do you have a 401k or 403b?
 

I had a 401k and now a 403b. I initially didn't do it for first two years but finally decided to. It's free money so I put in what my employer matches.

Re: Do you have a 401k or 403b?
 

My job automatically assign us for 403B and I don't think it asked me whether I am a US citizen or not. However, my job knows I have a EAD card.

Re: Do you have a 401k or 403b?
 

Don't be ashamed, I started my 401k less than 2 years ago myself.

The last job I had of over 5 years didn't offer any benefits and I simply didn't know any better. I am growing my 401k slowly, I am also now investing into VFIAX index fund (via Vanguard) and are also seeing positive results in less than 6 months. And I also have some $ in a high yield savings acct (4.30% apy), I can deposit or withdraw from this as needed while earning some interest. Looking into moving it to Webull though (they're offering 5% apy).

I try to advise others to do the same, after all, it's about our future and nothing is set in stone.

Re: Do you have a 401k or 403b?
 

There's no such requirement for these plans...if you're employed at the place, you qualify for it. I have a 457 plan. Its never too late. Even like $100 or so each paycheck consistently can add up big time after a couple of years with this stock market.

If your Company's got a 401K you should contribute the max that the Company is willing to match. Free money....