Retirement plan decisions made easy
What Is the Purpose of a 401k Plan?
A 401k plan is a company-sponsored savings plan designed to help workers provide for their own retirement. From the company’s point of view, the purpose of the 401k plan is to relieve the company of the responsibility to provide a traditional pension plan. From the employee’s point of view, the purpose is to save for retirement. There’s more information on the purpose of a 401k plan in Lesson 1 of our on-line course, The ABCs of Your 401k.
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