Atlantic Financial

Atlantic Financial

401k Plan

In this type of defined contribution plan, the employee can make contributions from his or her paycheck before taxes are taken out. The contributions go into a 401k account, with the employee often choosing the investments based on options provided under the plan. In some plans, the employer also makes contributions, matching the employee’s contributions up to a certain percentage. SIMPLE Plan and Safe Harbor 401k plans have additional employer contribution and vesting requirements.

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Companies in Massachusetts can use a local Massachusetts 401k advisor