How does a 401(k) plan work?
Introduction to 401(k) Plans A. Definition and Purpose of a 401(k) PlanA 401(k) plan is a retirement savings vehicle offered by employers to help employees save for their retirement. It allows eligible employees to contribute a portion of their pre-tax income to a tax-advantaged investment account. B. Benefits of Participating in a 401(k) PlanParticipating in…