plan 9 benefits of a 401(k) plan you haven't considered your company’s retirement plan gives you more than just an employer match. save more 9 unexpected benefits of a 401(k) plan getty images with features like automatic contributions for new hires, the convenience of 401(k) p...
So, if your company is included in the 56% of employers that offer a 401(k) (USBLS), you’re off to a great start! But, did you know that there is more than one type of 401(k) plan available? Choosing an alternative setup could provide additional advantages for both your ...
in 2007. The survey indicates that about 44% of defined benefit plan sponsors have either closed or frozen their plans in the past two years. Meanwhile, a majority of pension plan sponsors that closed their defined benefit plans said that they would increase employer contributions to their ...
A 401(k) plan allows the employees to defer some of their salary. Instead of receiving that amount in their paycheck, the employee defers, or delays, getting that money. In this case, their deferred money goes into a 401(k) plan sponsored by their employer. This deferred money generally ...
While a good wage or salary is important for any employee who’s considering whether to accept a job or stay with a company, the strength of the employer’s benefits package can often play a large role in their decision as well. By bundling the retirement, healthcare, time-off and other...
What Is a SIMPLE IRA vs. a 401(k)? Both SIMPLE IRAs and 401(k)s are retirement plans. SIMPLE IRAs are for small businesses; those with 100 or fewer employees. SIMPLE IRAs also require an employer to contribute to the retirement plan whereas a 401(k) does not require an employer to ...
SIMPLE 401(k) for businesses employing fewer than 100 people Safe Harbor 401(k), in which employees always own 100% of any money their employer contributes Traditional 401(k) popular with companies that have large workforces One-participant 401(k) used by self-employed savers without a...
4. Administering 401(k) plans and offering retirement resources Traditional pension benefits are a no-brainer for the employee: there’s no risk on their part. A 401(k) *with employer matching* will help you stand out in the eyes of many candidates. ...
The 403(b) plan is similar to the 401(k) plan; available for private-sector employees.1 If your employer offers it as an option, you may have a choice of traditional or Roth. A feature unique to 403(b) plans allows some employees with 15 years of service at the sam...
Consider contributing as much as you can to a 401(k) plan, at least up to the employer match. Life insurance from an employer can help you provide some financial support for your beneficiaries if you die. Disability insurance can help ensure you remain in good financial health if an acciden...