401(k) Plans

401(k) Plans

A qualified plan established by employers to which eligible employees may make salary deferral (salary reduction) contributions on a post-tax and/or pretax basis. Employers offering a 401(k) plan may make matching or non-elective contributions to the plan on behalf of eligible employees and may also add a profit-sharing feature to the plan. Earnings accrue on a tax-deferred basis. Read more: http://www.investopedia.com/terms/1/401kplan.asp#ixzz2E2oyGwOa.

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