Make this my homepage
Start Your Free Trial Now!
District of Columbia
Hide Topic Navigator
Benefits & Leave
Performance & Termination
Perks (Fringe Benefits)
Staffing & Training
All Retirement/Planning Topics
Defined Benefit Plans
Welfare and Pension Reports
Document Type ?
Select document type(s) to view:
Select All/Unselect All
Questions & Answers
What do employers need to consider regarding retirement savings and 401(k) plans? One of the most popular and widely offered retirement plan options is the cash-or-deferred arrangement (CODA), commonly known as a 401(k) plan, after the section of the Internal Revenue Code (IRC) that authorizes them. A CODA is a special type of defined contribution plan under which an eligible employee can elect to have the employer defer part of his or her salary and contribute the deferred amount to the plan or receive the full amount of the salary as cash. If an employee chooses to defer compensation, it is not subject to income taxation until it is withdrawn from the plan.
The advent of the 401(k) plan began a major shift in the way Americans plan and save for retirement. The days of relying on traditional employer-provided pension plans as the primary source of retirement income are fast becoming extinct. In their place are 401(k) plans in which employees can save for retirement on a pretax basis, and employers can better control their retirement costs because there are no minimum funding levels or guaranteed retirement benefits.
Other employer-sponsored retirement plans that are similar to but simpler to administer than 401(k) plans include simplified employee pensions (SEPs) and SIMPLE Plans. These plans have specified minimum requirements and offer less design flexibility in return for simple administration. Additionally, educational institutions and nonprofit organizations may provide 403(b) plans for their employees. Government employers may sponsor 457 plans. These plans have many of the same features and restrictions as 401(k) plans.
Summary for [Your State]
View sample documents
Read the complete analysis
View Related Topics
View discussion threads about Retirement Savings/401(k)
Filter Document Types:
Last 60 days
Last 6 months
Last 12 months
Applies to News & White Papers
2010 401(k) Practices Survey Results (Summary)
2010 410(k) Practices Survey Results (for Nonsubscribers)
2010 Fringe Benefit Survey Series - 401(k) Practices
401(k) Practices Survey Results - 2010
IRS 2016 Required Amendments List Gives First Guidance on Changes Needed to Retain Qualification
IRS announces pension plan, 401(k), and other retirement-related limits for 2016
IRS Proposal Qualifies Employer QMAC, QNEC Contributions at Allocation Stage Only
Suit Against 401(k) Plan Shows Fiduciary Protection Can’t Be Taken for Granted
Terms & Conditions
BLR—Business and Legal Resources
100 Winners Circle, Suite 300 | Brentwood, TN 37027
Copyright © 2017 BLR
—Business & Legal Resources. All rights reserved.
Copyright © 2017 Business & Legal Resources. All rights reserved. 800-727-5257
This document was published on http://Compensation.BLR.com
Document URL: http://compensation.blr.com/Compensation-topics/Retirement-Planning/Retirement-Savings-401k/