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401 (k) In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer.
In 1961, the company changed its name to Automatic Data Processing, Inc. (ADP), and began using punched card machines, check printing machines, and mainframe computers. ADP went public in 1961 with 300 clients, 125 employees, and revenues of approximately US$400,000. [3] The company established a subsidiary in the United Kingdom in 1965.
Gary C. Butler was the CEO and president of Automatic Data Processing. [1] He held this position from August 2006 through November 2011, and had been with the company for 37 years. From 1990 to 1995, he served as Group President for ADP's Dealer Services Group; and from 1995 to 1998 he served in the same capacity for ADP's Employer Services Group. Prior to assuming his role as CEO in 2006 ...
If you’ve left your job, there are several options for how to roll over your employer-sponsored 401 (k) retirement plan. Making the right decision on where to roll over your account can ...
A 401 (k) plan is a tax-advantaged retirement savings tool offered by employers that allows eligible employees to contribute a portion of their salary up to a set amount each year.
ADP offers three 401 (k) service tiers for companies of various sizes, including automatic enrollment and fiduciary advisors starting with the entry-level tier.
If you decide that you do want to transfer for your 401 (k) to a new employer’s plan, you will want to contact the 401 (k) administrator at your new company.
The American Society of Pension Professionals & Actuaries ( ASPPA) is a national organization for career retirement plan professionals. The membership consists of the many disciplines supporting retirement income management and benefits policy. ASPPA represents those who have made a career of retirement plan and pension policy work.
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