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	<title>New answer on: What Is 401K For?</title>

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		<title>By: David Pipes</title>

		<link>https://insurancelibrary.com/retirement-plans/what-is-401k-for</link>

		<dc:creator>David Pipes</dc:creator>

		<pubDate>Wed, 02 Jul 2014 19:37:26 +0000</pubDate>

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		<description><![CDATA[401(k) is a part of the Internal Revenue’s Tax code.&#160; It is the part that allows employers to establish defined contribution plans for their employees.&#160; In a defined contribution plan each employee has their own account.&#160; The employer has the option of contributing to the plan.&#160; Usually a selection of investments is available to the employee.&#160; The Employee is then responsible to select the investment(s) to be used for their account.&#160; The employer’s contribution, if any, is frequently directed by the employer into a certain investment.&#160; The 401(k) is rapidly becoming the retirement plan of choice in the USA. ]]></description>

		

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