RETIREMENT PLANNING

401(K)
A 401(k) plan is a self-directed, qualified retirement plan established by an employer to provide future retirement benefits for employees. Employee contributions are made on a pre-tax basis, and employer contributions are often tax deductible.

Employer contributions are often subject to vesting requirements. Employers can determine their own vesting schedules, making employee partially vested over time and fully vested after a specific nubmer of years.

A 401(k) plan can be a great way to save for retirement, especially if your employer offers matching contributions. If you are eligible to participate in a 401(k) plan, you should take advantage of the opportunity.