A 401(k) is a retirement savings plan that lets you invest a portion of each paycheck before taxes are deducted depending on the type of contributions made. Because of 401(k) tax advantages, the federal government imposes some restrictions about when you can withdraw your 401(k) contributions...
A 401(k) plan is an employer-sponsored retirement savings plan. It allows workers to invest a portion of their paycheck before taxes are taken out. Learn more.
Retirement is just around the corner for Gen X. Here’s what they need to know. Maryalene LaPonsieJan. 9, 2025 Preparing to Retire in 2026 Managing taxes and staying ahead of inflation are among top concerns for soon-to-be retirees. ...
A solo 401(k) allows self-employed people to save more for retirement. Find out if this tax-advantaged retirement account is right for you.
A Roth 401(k) is an employer-sponsored investment account in which an employee contributes after-tax funds that may be withdrawn tax-free in retirement.
A 457 retirement plan is an employer-sponsored retirement plan, similar to a 401(k), that can be set up for employees of state and local governments or tax-exempt organizations. If enrolled in a 457 plan, a participant can regularly contribute to her retirement savings and also benefit fro...
If you received a distribution of more than $10 from annuities, profit-sharing plans, retirement plans, or pensions, you should receive a Form 1099-R. Form 1099-R can also include other types of benefits, such as survivor income benefit plans. If you rec
What Is a SIMPLE 401(k) Plan? A SIMPLE 401(k) is a retirement savings account offered by small business employers with 100 or fewer employees.1 The SIMPLE 401(k) works just like a regular 401(k) plan, combining it with the simplicity of a SIMPLE IRA with a few minor changes. Empl...
Retirement is a relatively new concept that has come about as life expectancy has increased. Little more than a century ago, the idea of retirement did not exist. Our modern-day concept of retirement developed due to a combination of increased life spans, the growing popularity of pension plans...
“It’s the government verifying that the 401(k) is to the benefit of everyone,” says Dan Beck, CEO of 401GO, a 401(k) platform that specializes in helping small businesses establish their retirement plans. The nondiscrimination tests analyze thesavings ratesof highly compensated em...