401 (k) Plan Administered by Principal
The rag & bone 401(k) Plan allows you to invest in your retirement. How much you contribute on a pre-tax or post-tax (Roth) basis is up to you. You can contribute up to 100% of your earnings, including bonuses and commissions, to the IRS limit. The 401(k) Plan offers 24 individual fund choices, representing different types of investments.
Money experts agree that participating in a 401(k) plan is a "no-brainer" financial decision. When you make before-tax contributions to the 401(k) you're taxed on a smaller amount of money, so you pay less in taxes today. Plus:
It's flexible. You can stop or change your contributions at any time. It's easy. Your contributions are automatically deducted from your paycheck. It helps build financial security. Saving for retirement is always a good idea; starting early is an even better one!
How to Get Started To enroll or make changes to your 401(k) account: Visit https://www.principal.com/create-account Call 1-800-547-7754
The rag & bone contract number is 715188.
On the website, you can select your contribution percentage, make your investment allocation, or make changes to your account at any time during the year. When you first log in, you will need your Social Security number and birth date.
Don't forget to set up your beneficiary!
Keep Your Savings Together If you participated in another employer’s qualified 401(k) plan, you can roll over that account balance into your Principal 401(k) account with rag & bone at any time.
2023 IRS Limits
Maximum Contribution Limit
$22,500
Catch-up Contributions (age 50+)
$7,500
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