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401k plans
- ever wondered if other plans offer higher contributions?
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A
401k plan is a qualified plan established by employers to
which eligible employees may make salary deferral (salary
reduction) contributions on post and/or pre-tax basis. Employers
may make matching or non-elective contributions to the plan on
behalf of eligible employees and may also add a profit sharing
feature to the plan. Earnings accrue on a tax-deferred basis.
Plans that allow participants to direct their own investments
provide a core group of investment products.
Explore the many
plan options and tutorials available online that explain how you
can maximize your own 401k plan.
A 401k plan used properly can accrue to significant wealth over
time, with little or no cost to you, and provide decent tax
benefits.
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