A 403(b) plan is actually quite similar to the more well-known 401(k). This retirement account was designed for specific types of employees. You may be able to acquire a 403(b) plan if you are a professor, school administrator, teacher, doctor, nurse, librarian, employee of a tax-exe...
For qualifying employee deferral contributions to take effect, a solo 401(k) plan must be established by Dec. 31 with the funds deposited by the end of the tax year. Employer profit-sharing contributions are usually extended until tax-filing deadlines. Is a solo 401k worth it? The flexibility...
401k: What’s the difference? Retirement By Logan Jacoby 4 min read What is a solo 401(k)? A great self-employed retirement option Retirement By James Royal, Ph.D. 7 min read 403(b) vs. 401(k): What’s the difference in these retirement accounts? Retirement By James ...
Depending on your industry, you may be able to contribute to a similar retirement plan, like a 403(b) or 457(b), instead of a 401(k). Self-employed people can open a type of 401(k) on their own called a self-employed 401(k), and anyone who earns an income (or who is ...
What is the difference between a traditional and Roth 401(k) plan? There are two common kinds of 401(k) plans: traditional and Roth. These plans have some similarities: They are subject to the same annual contribution limit and may offer the same investment options. However, traditional and...
A TriNet 401(k) plan can help you attract top-notch talent, give your company a competitive advantage and help boost your team’s retirement savings. Learn how.
Napkin Finance is a quick and easy way to learn what is 401k, 401k Loan, Retirement, IRA vs. 401K, and Traditional IRA without dying of boredom.
What is a 401(k)? When it comes to saving for retirement, being prepared is key. If you’re working for a company that offers a 401(k) retirement plan, it can be a great option to help you save for your future. Maybe it’s your first time setting up a 401(k), or maybe you...
A defined contribution plan like a 401(k) may not be sufficient to meet your retirement needs. 401(k) Plans Like its Roth equivalent, thetraditional 401(k)is an employer-sponsored plan. This means you can’t set one up on your own. Money is taken out of your paycheck through automatic...
For this reason, a growing number of private companies are moving to the defined-contribution plan. The best-known defined-contribution plan is the401(k), and its equivalent for nonprofit employees—the403(b).72 Variations Some companies offer both types of pension plans. They even allow partic...