What is a 401(k) Plan?

A 401(k) is a feature of a qualified profit sharing plan that allows employees to contribute a portion of their wages to individual accounts. A Traditional 401k Plan is sponsored by an employer and it lets workers save and invest a portion of their paycheck before taxes are taken out up to IRS prescribed limits. These taxes are not paid until the money is withdrawn from the account at retirement or other distributable events. 

Related to: Retirement Plan Consultant, 401k Plan Assistance, Retirement Plan Design, 401k Plan Consultant

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Office Locations

North Haven, CT

Tel: (203) 234-2229
Fax: (203) 234-8369

Acton, MA

Tel: (978) 369-2318
Fax: (978) 379-8481

Westbrook, ME

Tel: (207) 854-1304
Fax: (207) 854-1305

Buffalo, NY

Tel: (716) 839-9405
Fax: (716) 839-9713

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