What is a 401(k) Plan and How Does it Work?
HR Digest
MARCH 28, 2023
It allows employees to save a portion of their pre-tax income for retirement. How does 401(k) work? Here’s how it works: When an employee enrolls in a 401(k) plan, they choose a percentage of their salary to contribute to the plan, up to a certain limit set by the Internal Revenue Service (IRS).
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