401(k)

401(k) plans allows a worker to save for retirement and have the savings invested while deferring income taxes on the saved money and earnings until withdrawal. The employee elects to have a portion of his or her wages paid directly, or "deferred," into his or her 401(k) account. Generally, the employee can select from a number of investment options, usually an assortment of mutual funds that are comprised of stocks, bonds, money markets investments, or some mix of the above. Many companies offer incentive by matching a portion of the employees' contribution.

We can help your company implement a 401(k) if you don't have one, or advise you on the future of your current plan.  We also offer consultation to your employees on their investment options.  To find out if a 401(k) plan is best for your business, call us today at (203) 237-7000.

Please Note: Plan distributions may be subject to tax and 10% penalty if withdrawn before age 59 1/2.  Loans are subject to interest charges and possible fees.  This will reduce the retirement benefit if not paid.   

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