Utilizing this benefit offered by your employer is an essential key to saving for retirement.  This money is withheld pre-tax from your paycheck, which will lower your taxable income for that year (or post-tax if participating with a Roth 401(k)).  This money will grow tax-free until it is time for you to retire.  Many employers contribute to these plans with matching and/or profit sharing.  It is very important to understand your employer’s retirement plan so you are maximizing your contributions to get the maximum amount of match/profit sharing from your employer.

Contact us today if you need assistance determining the best plan for contributing to your employer’s retirement plan.