Even if your company doesn’t offer employer matching contributions, you can still take advantage of your 401(k)’s other benefits including:
- Reducing your current income taxes
- Tax-free growth on contributions made until distribution
- The ability to transfer funds between employers if you change jobs
- Automatic deductions from your paycheck
- Saver's Credit on income taxes for qualified participants
See this article on Profit Sharing for Employees to learn more about another type of contribution your employer can make to your 401(k).
Comments
0 comments
Article is closed for comments.