What is a 401(a) Plan?

What is a 401(a) plan?

What is a 401(a) plan? Believe it or not, it’s actually very similar to the traditional 401(k) retirement plan that many Americans have today.

Pension Plans

pension plans

A pension plan is essentially a retirement plan that is provided by your employer. Unlike a 401(k), you do not have to contribute to the plan in order to receive distributions. Instead, your employer funds your pension plan. Pension plans initially became popular during World War II. After Congress passed the Stabilization Act of 1942, […]

What is a 403(b) Plan?

403(b) plan typed on paper

A 403(b) retirement plan lets you save money, lower your taxable income, and invest your savings. They were originally tax-sheltered annuities.

What is a 401(k) Plan?

piggy bank 401k plans

A 401(k) is an employer-sponsored retirement plan that comes from Section 401(k) in the Revenue Act of 1978. It provides tax advantaged accounts…