{"_id":"668da0b50b76658b4c233e87","title":"{\"ops\":[{\"insert\":\"What are Islamic considerations of employer-sponsored retirement savings accounts (401k plans)?\\n\"}]}","question":"{\"ops\":[{\"insert\":\"I have a number of questions related to one's 401k, an employer-sponsored retirement investment account. My husband was not totally aware of what his 401k plan entailed. We recently learned that the money was being invested in his company's portfolio for a number of years. This probably includes non-Sharia compliant companies. Do we need to purify the money in this account? If so, how should we do so? We do not know the percentage of companies that were non-Sharia compliant. \\n\\nWe also recently learned that zakat is owed on the money in the 401k account. If this is true, how should we calculate and pay zakat on that money? Do we need to make up for the previous years that we were not paying zakat on this money? If so, how should we calculate what we owe?\\n\"}]}","answer":"{\"ops\":[{\"insert\":\"This link below has reliable information on the subject. It is based on the works of Mufti Taqi Usmani from Pakistan: \"},{\"attributes\":{\"link\":\"https://askimam.org/public/question_detail/29670\"},\"insert\":\"https://askimam.org/public/question_detail/29670\"},{\"insert\":\"\\n\\nFor more information on paying zakat for 401k and other investments, please see: \"},{\"attributes\":{\"link\":\"https://www.carolinaqa.com/search?tag=68a505f82cc850e0af1037be&tag=668d9ff50b76658b4c232a40\"},\"insert\":\"https://www.carolinaqa.com/search?tag=68a505f82cc850e0af1037be&tag=668d9ff50b76658b4c232a40\"},{\"insert\":\"\\n\"}]}","tags":[{"_id":"668d9ff50b76658b4c232a40","tag":"Zakat: Al-Mal","count":57},{"_id":"68a505f82cc850e0af1037be","tag":"Finance: Investments & Trading","count":16}],"createdOn":"2024-07-09T20:42:29.867Z"}