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A 401K plan is a type of tax-advantaged retirement savings plan offered by employers in the United States. It allows employees to contribute a portion of their salary to a retirement savings account, which is then invested in a variety of assets. Contributions to the plan are made with pre-tax dollars, meaning that the employee does not pay taxes on the money until it is withdrawn. This allows the employee to save more money for retirement, as the money is not subject to taxation until it is withdrawn.
The 401K plan market is made up of a variety of companies that offer 401K plans to employers. These companies provide a range of services, such as plan design, investment management, and administrative services. They also provide educational resources to help employers and employees understand the benefits of the plan.
Some of the companies in the 401K plan market include Fidelity Investments, Vanguard, Charles Schwab, T. Rowe Price, and Principal Financial Group. Show Less Read more
