For years, people have been saving for retirement through a 401(k) plan, a type of retirement savings account whose name is taken from subsection 401(k) of the Internal Revenue Code. These are "tax-deferred” contribution plans that are deducted from an employee’s paycheck before taxes and then taxed when withdrawn from the account. Some employers provide a proportionate match for each employee.
In addition to the tax-deferred contributions, a 401(k) plan acts as an automatic savings plan and offers your employees control over their retirement.
Pathfinder LL&D can help you set up an easy and convenient 401(k) plan for you and your employees.