401(k) Plan

Updated:

11/12/24

A 401(k) plan is a way of saving for your retirement, sponsored by your employer. Through this system, your employer takes a designated portion of your paycheck before taxes and contributes it into a retirement account known as a 401(k). This plan allows you to grow your retirement savings over time, often with the benefit of employer matching contributions and tax deferral. By offering an opportunity to invest in various funds, a 401(k) plan helps employees build long-term financial security.

A 401(k) plan is a way of saving for your retirement, sponsored by your employer. Through this system, your employer takes a designated portion of your paycheck before taxes and contributes it into a retirement account known as a 401(k). This plan allows you to grow your retirement savings over time, often with the benefit of employer matching contributions and tax deferral. By offering an opportunity to invest in various funds, a 401(k) plan helps employees build long-term financial security.

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