There are a few financial plans out there to help keep your money tucked away for retirement; learn about a few of them and decide which one works for you.
There are three types of company savings plans:
(This article doesn’t cover the Thrift Savings Plan for federal government workers and the military, or 457(b) “top-hat” plans for tax-exempt employers.)
If you’re saving through your work plan, you may not know – or care – which category your plan falls into. But should you care?
For the most part, it doesn’t matter which type of plan you’re in, since many features are exactly the same in all three. For example:
But there are also some important differences among the plans that you should be aware of:
By Ian Berger, JD
Ed Slott and Company, LLC