What is a 401k retirement plan?

Answer A 401K is a retirement account that is set up through an employer and allows you to make regular contributions. Sometimes your employer will match certain contribution amounts, which means that you... Read More »

Top Q&A For: What is a 401k retirement plan

What percentage of Americans have a 401k retirement plan with the IRS?

The Internal Revenue Service is a tax collection agency for the United States government and thus offers no retirement plans of any type, including 401ks. Although many Americans have 401k plans,... Read More »

IRA & 401k Retirement Rules?

The IRA and 401k are tax-deductible retirement savings plans. A 401k is an employer-sponsored plan. You can contribute a portion of each paycheck into your 401k. You have to enroll in the 401k t... Read More »

Difference Between 403b & 401k Retirement Plans?

Both 401k and 403b plans are employer-sponsored, tax-deferred retirement plans. Both allow employees to make tax-deductible contributions to their retirement funds. The major difference is that onl... 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 »