Planning ahead with a 401k retirement plan
For most workers, the days of generous pensions are long gone. Employer-sponsored pension plans were replaced by the more cost-effective 401k plan decades ago. Fortunately, 401k plans offer a relatively safe, versatile way for employees to plan for retirement. Employees can choose the amount they want to be taken from their paychecks and placed into a retirement account. You can decide how much, if any, of employees' contributions you want to match.