June 22, 2024


Costing Accounting Everyday

What Is a 401(k) Plan? Definition, Types, & Benefits

Darkened closeup photo of a calculator, pen, magnifying glass, and 401(k) paperwork on a desk with text overlay that reads "What Is a 401(k) Plan?"

Many employers match employee 401(k) contributions in amounts from 1–5% of each paycheck.