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Asked 6/3/2008
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Is there a maximum age to contribute? If a person is full time employed at age 70 can they still contribute to a 401K? If a person age 70 is still employed do they have to take a distribution? |
Answer 1/2 - Submitted 9/3/2011
There is no maximum age limit for contributing to a 401k. You just have to be an employee. Once you terminate employment, you can no longer contribute.
Once a person reaches age 70.5 there are required minimum distributions that must be taken from retirement assets, but that does not mean that contributions must stop.
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