{"id":14492,"date":"2025-05-29T09:27:33","date_gmt":"2025-05-29T14:27:33","guid":{"rendered":"https:\/\/commpart.com\/renovo\/?page_id=14492"},"modified":"2025-10-20T14:24:01","modified_gmt":"2025-10-20T19:24:01","slug":"401k","status":"publish","type":"page","link":"https:\/\/commpart.com\/renovo\/401k\/","title":{"rendered":"401k"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"14492\" class=\"elementor elementor-14492\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1088ccc5 e-con-full e-flex e-con e-parent\" data-id=\"1088ccc5\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3c25e57d elementor-widget elementor-widget-heading\" data-id=\"3c25e57d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">401(k) <\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4cfa86d0 e-flex e-con-boxed e-con e-parent\" data-id=\"4cfa86d0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-721bf9fa e-con-full e-flex e-con e-child\" data-id=\"721bf9fa\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2b07bcc elementor-widget elementor-widget-text-editor\" data-id=\"2b07bcc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Renovo Home Partners 401(k) Plan, through T. Rowe Price, helps you plan for the future by saving today.<\/p>\n<h2>Eligibility<\/h2>\n<p>You\u2019re eligible to join the 401(k) plan 90 days after your hire date. At that time, you\u2019ll be automatically enrolled at a 3% before\u2011tax contribution rate. If you prefer not to participate, you can opt out anytime during your first 90 days.<\/p>\n<h2>Automatic Enrollment<\/h2>\n<p>Getting started with retirement savings can feel overwhelming. That\u2019s why you\u2019re automatically enrolled in the Renovo Home Partners 401(k) Plan.<\/p>\n<ul>\n<li><strong>Default contribution:<\/strong> 3% of your before\u2011tax pay<\/li>\n<li><strong>Default investment:<\/strong> T. Rowe Price Retirement Blend Trust, Class A<\/li>\n<li><strong>Make changes:<\/strong> Change your contribution rate, adjust investments, stop contributions, or make updates anytime at <a href=\"http:\/\/troweprice.com\" target=\"_blank\" rel=\"noopener\">troweprice.com<\/a> or by calling <strong>800<\/strong><strong>\u2011922<\/strong><strong>\u20119945.<\/strong><\/li>\n<\/ul>\n<h2>You\u2019re Enrolled, Now What?<\/h2>\n<ol>\n<li>Set your contribution amount (up to IRS limits).<\/li>\n<li>Decide between Traditional and Roth contributions.<\/li>\n<li>Choose your investments and adjust as needed.<\/li>\n<li>Designate your beneficiaries and update anytime.<\/li>\n<\/ol>\n<h2>Traditional vs. Roth 401(k): What\u2019s the Difference?<\/h2>\n<table>\n<thead>\n<tr class=\"RateTable\">\n<th class=\"THCellLFT\" style=\"text-align: center;\"><strong>Traditional 401(k)<\/strong><\/th>\n<th class=\"THCellInsd\"><strong>Roth 401(k)<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr class=\"rowA\">\n<td class=\"cellColOne\" style=\"text-align: center;\">You put money into your account before it is taxed.<\/td>\n<td>The money is taxed before it goes into your account.<\/td>\n<\/tr>\n<tr class=\"rowA\">\n<td class=\"cellColOne\" style=\"text-align: center;\">You pay taxes when you withdraw the money in retirement.<\/td>\n<td>Withdrawals are tax-free in retirement if you meet IRS requirements*.<\/td>\n<\/tr>\n<tr class=\"border_bottom\">\n<td class=\"cellColOne\" style=\"text-align: center;\">You must start taking money out of the account at age 73.<\/td>\n<td>There are no required withdrawals during your lifetime.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"disclaimer\">*See <a href=\"https:\/\/www.irs.gov\/retirement-plans\/roth-acct-in-your-retirement-plan\" target=\"_blank\" rel=\"noopener\">IRS requirements<\/a> for withdrawal.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5f4a9219 e-con-full e-flex e-con e-child\" data-id=\"5f4a9219\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-56695455 e-flex e-con-boxed e-con e-child\" data-id=\"56695455\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7a1d1091 elementor-widget elementor-widget-text-editor\" data-id=\"7a1d1091\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2 class=\"sidebar\">Tools of the Trade<\/h2>\n<p>Find real people, ready to help.<\/p>\n<h3 class=\"sidebar\">Brightside Financial<\/h3>\n<p><a href=\"http:\/\/www.gobrightside.com\/\" target=\"_blank\" rel=\"noopener\">gobrightside.com<\/a><br \/><strong>855-940-1507<br \/><\/strong>(Weekdays, 8:00 a.m. \u2013 9:00 p.m. ET)<\/p>\n<p>Download the Brightside app, or visit\u00a0<a href=\"http:\/\/app.gobrightside.com\/\" target=\"_blank\" rel=\"noopener\">app.gobrightside.com.<\/a><\/p>\n<h3 class=\"sidebar\">T. Rowe Price<\/h3>\n<p><strong>800-922-9945<\/strong> <br \/><a href=\"https:\/\/www.troweprice.com\/\" target=\"_blank\" rel=\"noopener\">troweprice.com<\/a><\/p>\n<p>Download the app from the App Store or Google Play, or by texting <em>MOBILEAPP<\/em> to <strong>68784<\/strong>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a84d9f4 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"a84d9f4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/apps.apple.com\/us\/app\/t-rowe-price-personal\/id534586266\" target=\"_blank\" rel=\"nofollow\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-app-store-ios\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">App Store<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.trp.and.personal&#038;hl=en_US\" target=\"_blank\" rel=\"nofollow\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-google-play\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Google Play<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-56cb6ded e-flex e-con-boxed e-con e-child\" data-id=\"56cb6ded\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>401(k) The Renovo Home Partners 401(k) Plan, through T. Rowe Price, helps you plan for the future by saving today. Eligibility You\u2019re eligible to join the 401(k) plan 90 days after your hire date. At that time, you\u2019ll be automatically enrolled at a 3% before\u2011tax contribution rate. If you prefer not to participate, you can [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-14492","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>401k - Benefits Powered by Renovo Home Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/commpart.com\/renovo\/401k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"401k - Benefits Powered by Renovo Home Partners\" \/>\n<meta property=\"og:description\" content=\"401(k) The Renovo Home Partners 401(k) Plan, through T. 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