A 401(k) plan is perhaps the most common employer sponsored retirement plan in the workplace today. These plans allow employees to contribute to a tax deferred savings plan. Some employers also match employee contributions to these plans, although it’s not always necessary.
401(k) plans can be a tremendous employee benefit plan, but often have hidden fees that detract from potential interest earnings.
Once an employee leaves their employer, their 401(k) typically has to be moved into an Individual Retirement Account (IRA). Do you have a 401(k) from a previous employer and you’re not sure what to do with it? Let us show you what options you have.