401(k) Retirement Plans

401(k) Retirement Plans

Unleash the power of 401(k) plans and recent legislative changes that have turbocharged these retirement savings vehicles for employers and employees. This overview reveals the exceptional benefits of 401(k) plans, including tax advantages, employer matches, and recent legislation such as the Secure Act 2.0 and the Consolidated Appropriation Act.

Tax Advantages for Employees

Are you looking for a retirement savings plan that offers flexibility and tax advantages? Look no further than traditional 401(K) Plans and Roth 401(K) Plans!

  1. Traditional 401(K) Plans allow you to contribute pre-tax dollars, reducing your taxable income and potentially lowering your current tax bill. On the other hand..
  2. Roth 401(K) Plans allow you to contribute after-tax dollars, but your withdrawals in retirement are tax-free. So whether you prefer immediate tax benefits or tax-free withdrawals in the future, both options have you covered!!

Retirement Savings and Financial Security

Secure your financial future with 401(k) plans. Empower yourself to save and invest a portion of your income, providing a solid foundation for a comfortable retirement.

Employer Matching Contributions

Supercharge your savings with employer matches. Many companies generously match employee contributions, giving you an extra boost towards achieving your retirement goals.

Secure Act 2.0

The future of retirement savings is brighter than ever with the Secure Act 2.0. This game-changing legislation expands access to retirement savings, enhances auto-enrollment features, and increases the age for required minimum distributions (RMDs), allowing you to save more and retire on your terms.

Consolidated Appropriation Act

Get ready for even more opportunities with 401(k) plans. The Consolidated Appropriation Act opens doors for small businesses, enabling them to join multiple employer plans (MEPs) and collectively offer the benefits of 401(k) plans. This means reduced administrative burdens and potential cost savings for employers.

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