2007-10-17 13:14:05 · 4 answers · asked by Appel P 1 in Business & Finance ➔ Personal Finance
Yes or ROTH
2007-10-17 13:28:53 · answer #1 · answered by shipwreck 7 · 1⤊ 0⤋
A 401(k) plan is an employer-sponsored benefit that allows you to save money from your paycheck on a tax-deferred basis. Part of your paycheck goes into an account that's set up for you, and the employer may also contribute to the account. You won't pay taxes on the money you contribute to the 401(k) account, until you withdraw it (unless it's a Roth 401(k) account, and few employers offer those yet). The money in the account is invested long term for your retirement. It's a very good idea to participate in a 401(k) plan because it may end up being a big supplement to your Social Security benefits.
2007-10-18 04:39:26 · answer #2 · answered by Uncle Leo 5 · 0⤊ 1⤋
Section 401(k) of the Internal Revenue Code authorizes the type of retirement plan commonly called a 401K. Without and ACTUAL question, you won't get a USEFUL answer.
2007-10-17 21:05:44 · answer #3 · answered by STEVEN F 7 · 1⤊ 0⤋
6 or B.
2007-10-17 20:23:18 · answer #4 · answered by Anonymous · 1⤊ 0⤋