Definition: A workplace defined contribution retirement program providing tax-deferred growth of the account. To participate in a 401(k), your employer must offer a plan and you must be eligible to contribute. Eligibility restrictions are determined by the employer.
A 401(k) account is one of the most important components of any successful retirement plan. Employer matching programs enhance the value of a 401(k) plan.
A 401(k) account is one of the most important components of any successful retirement plan. Employer matching programs enhance the value of a 401(k) plan.