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A 401 (k) plan is a personal retirement account that allows employees to contribute pre-tax or after-tax income to their retirement savings. Learn about the history, taxation, types, and rules of 401 (k) plans in the United States.
A third-party administrator (TPA) is an organization that processes insurance claims or certain aspects of employee benefit plans for a separate entity. Learn about the roles and functions of TPAs in health care, retirement plans, and commercial general liability.
ERISA is a federal law that sets minimum standards for private pension and health benefit plans in the U.S. It was enacted in 1974 to protect plan participants and beneficiaries, and regulate plan fiduciaries, funding, vesting, disclosure, and benefits.
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.
If a 401(k) plan participant leaves their employer in the year they turn 55 or older and they leave the 401(k) plan assets in the plan, they may be able to access their 401(k) without the 10% tax ...
But the exact investment selection depends heavily on the company and the plan’s administrator. Finally, what most distinguishes the 403(b) plan from the 401(k) plan is who has access to each ...
A self-directed individual retirement account is an individual retirement account (IRA) which allows alternative investments for retirement savings. Some examples of these alternative investments are real estate, private mortgages, private company stock, oil and gas limited partnerships, precious metals, digital assets, horses and livestock, and intellectual property. [1]
In theory, 401(k) plans are designed to make saving and investing for retirement as simple as possible, which means your plan administrator provides your investment options.
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