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Empower Your Future with a Flexible 401(k)
Popular retirement saving plan under the Defined Contribution Plan category. They offer employees and employers flexibility in contributions, investment choices, and tax advantages.
Contribution Limits
Maximize Your Contributions
Employees can contribute a portion of their salary to a 401(k) plan, subject to annual contribution limits set by the IRS. For 2024, the contribution limit is $23,000. For individuals under 50, with a combined employee-employer contribution limit of $69,000. There is also a catch-up contribution of an additional $7,500 to the total contribution for those 50 and older.
Employer Match
Unlock Additional Savings
Many employers offer a matching contribution to employees’ 401(k) accounts, often up to a certain percentage of the employee’s contributions. This matching contribution is an added incentive for employees to save for retirement.
For Employers
Strengthen Your Workforce
Attract and retain top talent : By offering a competitive retirement savings plan
Potential tax advantages including deductible contributions and tax credits for specific plans.
Seamless Transitions: Easily Remove Employees When They Leave by rolling over the 401 (k) account balance into a new employer’s plan / individual retirement account (IRA).
