The 401(k) account is the common name in the United States for the tax qualified defined contribution pension plan account and takes its name from subsection 401(k) of the Internal Revenue Code (Title 26 of the United States Code). 401(k) are “defined contribution plans” with annual contributions limited, currently, to $17,500. Contributions are “tax-deferred”—deducted from paychecks before taxes and then taxed when a withdrawal is made from the 401(k) account.
The Richtopian Vision
Join Our Newsletter
- 3,080,494 all-time readers
- 11 Amazing Examples of Disruptive Technology
- What Is Social Marketing? And How Does It Work?
- 3 Reasons You Should Buy Gold (And 3 Reasons You Shouldn't)
- 17 Great Examples of Effective Leadership and Strategy
- 7 Wealth Habits of the World’s Richest People
- What Do the Super-Rich Spend Their Money On? (Infographic Included)
- Workplace Culture: How to Encourage Collaboration
- Analytical Thinking: 8 Natural Talents Leading to Action
- A Comprehensive Guide on the Psychology of Marketing and Sales
Women in Leadership
- How to Make a Career Change at Any Age August 6, 2019