401(k)

A 401(k) plan allows employees to save for retirement with pre-tax dollars withdrawn directly from their paycheck, and also allows employers to contribute to the employee’s account.

  • Employees may select investments offered through the employer plan.
  • If an employee leaves the organization, he or she can transfer or rollover the vested balance of the 401(k) into another employer’s plan or an IRA.
  • Some 401(k) plans allow contributions to designated Roth accounts in the plan. These Roth account contributions are after you have paid the taxes, but later most distributions qualify as tax-free for life.
  • Funds in a designated Roth account in a 401(k) can be rolled over to Roth IRAs or to another employer’s designated Roth account, if the plan will accept the rollover. Funds in a Roth IRA may not be rolled over to a designated Roth account in an employer’s plan.

Discover how you can take advantage of our retirement financial service options.




IMPORTANT CONSUMER INFORMATION
This site is for informational purposes only and is not intended to be a solicitation or offering of any security and:
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