​​401(k) Plans – 2410

401(k) Plans

A 401(k) retirement savings plan is for employees of for-profit companies who wish to save for retirement on a pre-tax or after-tax basis. This plan features the ease of automatic payroll deduction and provides a number of powerful tax advantages to help participants save and invest for retirement. Employee participation in a 401(k) plan is voluntary, but offers an additional retirement income source to Social Security or state pension system benefits. The tax advantages to saving into a 401(k) plan include pre-tax contributions that lower taxable income, the power of tax-advantaged growth and after-tax Roth contributions. Contact us with any questions and to learn how to maximize 401(k) benefits to augment your savings goals.