A 401(k) is a type of retirement savings plan offered by employers in the United States. It allows employees to contribute a portion of their income on a pre-tax basis, meaning the money is taken out of their paycheck before taxes are withheld. The contributions are then invested in a selection of mutual funds or other investments chosen by the employee from the options offered by the plan. Understanding the Importance of 401(k) Plans for Retirement Savings Retirement can be a significant … [Read more...] about 401(k) Retirement Savings Plan: Benefits, Risks, and Contribution Limits