How to Set Up & Enroll in Your 401(k)

Step-by-step enrollment guide with a paycheck impact calculator

Under SECURE Act 2.0, new plans must auto-enroll employees at 3-10% of salary. But the default rate may be lower than what you should save. Financial planners recommend 10-15% of gross income including employer match.

5 Steps to Enroll

Check eligibility: Most employers offer enrollment during first 30-90 days or open enrollment
Choose contribution rate: Start with at least enough for full employer match
Select pre-tax or Roth: Based on current vs expected future tax bracket
Pick investments: Target-date fund if unsure, or build a 3-fund portfolio
Name a beneficiary: This overrides your will - update after life changes