What Is The 401k Retirement Plan?
The 401(k) plan is essentially a savings plan with the retirement related benefits and is funded partially by the employee with a ‘matching contribution’ made by the employer. This contribution need not be the same, and it varies based on the size of the company.
Benefits Of The 401k Retirement Plan
One of the major benefits of 401k retirement plan is that the contributions are deducted from the pre tax salary. In addition, the growth of funds is tax-free unless they are withdrawn.
Planning For The Future
To some, …