10 Things to Know About a 401k Plan Before Getting Started
What is a 401k Plan? A 401k plan is a retirement savings plan offered by many American employers that has tax advantages for the saver. It is named after a section of the U.S. Internal Revenue Code. Essentially, a 401k plan allows employees to divert a portion of their salary into long-term investments, which can grow tax-deferred until the funds are withdrawn, typically after retirement. The primary purpose of a 401k plan is to help employees...