Retirement


DEFINITION

401(k) Plan

In the United States, a 401(k) plan is a retirement plan that enables employees to set aside a portion of their compensation in a special account, often with matching contributions from the employer. Eligibility restrictions to participate in a 401(k) are determined by the employer. Contributions and earnings grow tax-deferred until withdrawn.

RESOURCES

DID YOU KNOW?

62% of people are not financially ready for retirement. QuickPlan for tablets is an easy to use tool that allows you, within minutes, to assess your own retirement readiness and to forecast your finances for the long term.





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