401(k) Plans

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A 401(k) is a flexible retirement plan that can help employees invest and save for retirement. Employees invest a portion of their wages into an individual account. Employers can also contribute to the account.

Features and benefits:

  • Funded by payroll deductions
  • Roth Savings
  • Employer has discretion to match employee contributions
  • Allows more investment choices
  • Employer may be eligible for tax deduction
  • Employee retention
  • Offers traditional pre-tax deferrals or Roth deferrals