Upon retirement, an employee’s benefits are determined by the amount contributed by their employer and/or the employee themselves during their tenure. Those retirement plans are typically tax-deferred. They include thrift plans, profit-sharing plans, and 401(k).
Defined-contribution plan
Upon retirement, an employee’s benefits are determined by the amount contributed by their employer and/or the employee themselves during their tenure. Those retirement plans are typically tax-deferred. They include thrift plans, profit-sharing plans, and 401(k).
