Employers can automatically enroll employees into the company's 401(k) plan and set minimum contribution rates without the employee's approval. Employees can change the employer's election, or opt out of the plan, within 90 days of the first contribution for a penalty-free return of automatic withdrawals. If they opt out after the 90-day period, they will have to pay a 10% penalty, plus income tax, on the amount that is withdrawn.
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