How to Decipher Fees in Your 401k Plan?

Answer Workers and employers use 401K plans to save for retirement. Workers invest part of their salary into the plan, and employers often contribute as well. There are fees associated with the management... Read More »

Top Q&A For: How to Decipher Fees in Your 401k Plan

How to Eliminate That Tax Break on Your 401k Plan?

The tax break on a 401k plan refers to the benefit of reducing your annual income by the amount of your elective salary reductions. Electing the tax deferral means that taxes are paid when the mone... Read More »

Is a 401k plan an IRA?

A 401k plan is not an individual retirement account (IRA). Both 401ks and IRAs are retirement accounts, but 401ks are set up by companies and IRAs are set up by individuals.Source:IRS: Publication ... Read More »

What is a 401k plan?

According to the Investment Company Institute, on November 10, 1981, the Internal Revenue Service amended the U.S. tax code to allow for the creation of a tax-advantaged investment account known as... Read More »

How to Get Money Out of a 401K Plan to Pay Bills?

A 401k plan is an employer-sponsored retirement savings plan where you are allowed to make elective pre-tax contributions that grow tax-deferred. If you need to access money in your 401k plan befor... Read More »