Are there any 401(k) accounts for federal employees?

Strangely enough, there are: 401(k) and 403(b). The federal agencies that deal with money, strangely enough, like the FEC and other financial industries also have 401(k)s and 403(b)s for their employees, in addition to potential for TSPs. If you got someone who works for a financial agency of the government, make sure you look for that. There will be a deduction for it on their pay stub, so you could possibly have 401(k) or 403(b) – probably more likely, but one of them is both. They’re there, too. Don’t forget to look for those.

Carolyn Grimes is a family lawyer at the law firm of Wade Grimes Friedman Sutter & Leischner PLLC in Alexandria, Virginia. To learn more about Grimes and her firm, visit www.oldtownlawyers.com.