What is a 401(k) retirement plan?
Asked 6 months ago
A 401(k) retirement plan is a type of employer-sponsored retirement savings plan that allows employees to contribute a portion of their pre-tax income towards their retirement. These contributions are then invested in a range of investment options, typically including stocks, bonds, and mutual funds. One of the main advantages of a 401(k) plan is the ability to defer taxes on both the employee's contributions and the investment earnings until they withdraw the funds during retirement. Additionally, many employers often offer matching contributions to incentivize employees to save for retirement. Employees have control over their 401(k) accounts, including the ability to choose how much to contribute and how to allocate their investments. Overall, a 401(k) plan offers a tax-advantaged way to save for retirement while allowing individuals to take an active role in their investment strategy.
Need further help?
Type out your followup or related question and we will get you an answer right away.
Need to call Prudential - Retirement?
If you need to call Prudential - Retirement customer service, now that you have the answers
that you needed, click the button below. You can either call them on your phone or use our
free AI-powered phone to dial for you, get a rep for you, and more.
Call Prudential - RetirementPrudential - Retirement
Find a list of many popular Prudential - Retirement questions with answers or step by step guides on our FAQ page below. Or ask a whole new question and get an answer right away.
Call Prudential - RetirementPrudential - Retirement Customer Service FAQAsk a QuestionWas this page helpful?Needs work
Sharing is what powers GetHuman's free customer service contact information and tools. You can help!