401k Plan

A 401k is an employer-sponsored, -supported pension savings plan for employees in the .

Companies can sponsor qualified workers to save and invest for by donating a percentage of their salary to the plan on a tax-deferred basis through 401k programs.

Employer matching is used to motivate these donations.

Contribution restrictions, tax incentives, and early withdrawal penalties are common features of 401k programs.

Last Updated on 3 years by pinc