401(k)s and Employer Retirement Plans

401(k)s and Employer Sponsored Retirement Plans

 

What is a 401(k)?

A 401(k) is a tax-advantaged, defined-contribution retirement account offered by many employers to thier employees. It is named after a section of the U.S tax code that its rules are derived from. In a 401(k), employees make contributions to the account via automatic payroll withholding and their employers can match some or all of those contributions. 

In a traditional 401(k) plan, earnings and contributions are not taxed until they are withdrawn, typically after retirement. 

A Roth 401(k) plan is also available and functions similarly to a traditional with the exception that contributions are taxed and withdrawals can be tax free.

Thieman-Stinnett's Financial Advisors can work with your company to setup a new 401K program or transfer your current 401(k) to us. We have a partnership with Capital Group to setup and facilitate 401(k) programs.   

Along with 401(k)s, there are other employer sponsored investment plans available at Thieman-Stinnett. Plans we offer are:

-Simple IRA

-SEP IRA

-403(b)

-Keogh plans for Self Employed People

 

Thieman-Stinnett can custom tailor an Employee Sponsored Retirement plan to fit your company's needs. Each plan has its different advantages and should be discussed with a Financial Advisor. Call us at (325)655-5520 or click the Contact Us link above to get started. 

Below are a few links with more information about the retirement plans listed. 

401(k)

Roth 401(k)

SEP IRA

Simple IRA

403(b)