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Archive for November, 2015

401(k) Basics

A retirement plan shows that you are invested in the futures of your employees and gives employees the opportunity to plan ahead and care for their financial futures. The 401(k) is a type of retirement account, aptly named after its section description in the IRS tax code (26 U.S. Code § 401(k)). This code section allows you to provide employees with an option to receive their earnings in cash or in a deferred compensation structure. Plan Options There are two main ways that employees can contribute to a 401(k) plan: they can do so on a pretax basis, meaning that their deferrals will come out of their checks prior to any applicable taxes being taken out, or they can do so on a post-tax bas

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