Forefront Research

What Exactly Is a 401k?

Have you ever thought about retirement ?

The term 401k gets thrown around pretty often and most people know little about it and less actually have a 401k. Interestingly enough through the Revenue ACT of 1978, the United States Congress created the first 401k plan because they noticed people needed more incentives for a retirement plan. Section 401 was first implemented to set up limitations for companies who were creating incentive plans for executives. However, now most employee sign up for 401k plans and agree to have a small percentage of their salary deposited with the company matching the amount . . .

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