What is 401k Plans?In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code. Under the plan, retirement savings contributions are provided (and sometimes proportionately matched) by an employer, deducted from the employee's paycheck before taxation (therefore tax-deferred until withdrawn after retirement or as otherwise permitted by applicable law), and limited to a maximum pre-tax annual contribution of $19,000 (as of 2019).[2][3]
Other employer-provided defined-contribution plans include 403(b) plans for nonprofit institutions, 457(b) plans for governmental employers, and 401(a) plans. These plans may provide total annual addition of $56,000 (as of 2019) per plan participant, including both employee and employer contributions. Source: https://en.wikipedia.org/wiki/401(k) |
- Home
-
Quotes
- Business Insurance Quote
- Group Benefits Insurance Quote
- Business Owners Package (BOP) Insurance Quote
- Insurance Bond Quote
- Workers Compensation Quote
- Builders Risk Quote
- Buy/Sell Agreements Quote
- 401k Plans Quote
- Cyber Liability Quote
- Commercial Auto Quote
- Executive Benefits Quote
- Inland Marine Quote
- Professional Liability / Errors and Omission Quote
- Commercial Property Insurance Quote
- Umbrella Insurance Quote
- Service
-
Insurance
- Business Insurance
- Business Owners Package (BOP) Insurance
- Group Benefits
- Insurance Bonds
- Workers Compensation
- Builders Risk Insurance
- Buy/Sell Agreements
- Cyber Liability Insurance
- Commercial Auto Insurance
- Executive Benefits
- Inland Marine Insurance
- Professional Liability / Errors and Omission Insurance
- Commercial Property Insurance
- Umbrella Insurance
- 401k Plans
- Financial Planning
- About
- Contact
Navigation |
Connect With UsShare This Page |
Contact Us |
Location |
Website by InsuranceSplash