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	<title>New answer on: How Does A 401K Retirement Plan Work?</title>

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		<title>By: David Racich</title>

		<link>https://insurancelibrary.com/retirement-plans/how-does-a-401k-retirement-plan-work-2</link>

		<dc:creator>David Racich</dc:creator>

		<pubDate>Sat, 29 Jun 2013 12:56:15 +0000</pubDate>

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		<description><![CDATA[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.
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