How Does A 401K Retirement Plan Work?

  1. 0 POINTS
    Contact Me
    David RacichPRO
    Fountain Hills, Arizona
    A 401(k) retirement plan is a defined contribution plan under ERISA, the Employee Retirement Income Security Act of 1974. Employer sponsored 401(k) plans enjoy tax deductible contributions up to $17,500 for 2013 with an additional contribution of $5,500 under the catch up provision for those age 50 and older. 401(k) plans accumulate tax deferred and as taxable at ordinary income. Some employers also provide some degree of contribution match as well.
      
    Answered on June 29, 2013
    +2
    1 Thumb up 0
    +1 this answer
    flag this answer
    2. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>