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Planning Your Retirement: 401(k) Plans

401(k)

What is a 401(k) plan? (Investopedia)

What is a 401(k) employer match? (The Balance)

What is a Roth 401(k)? (Investopedia)

What is a 403(b)? (Investopedia)

IRS: 401(k) Plans

  • 401(k) Plan Overview​ (and types of plans)
    "A 401(k) plan is a qualified (i.e., meets the standards set forth in the Internal Revenue Code (IRC) for tax-favored status) profit-sharing, stock bonus, pre-ERISA money purchase pension, or a rural cooperative plan under which an employee can elect to have the employer contribute a portion of the employee’s cash wages to the plan on a pre-tax basis."
  • 401(k)  Contribution Limits
    "The limit on employee elective deferrals (for traditional and safe harbor plans) is: $19,500 in 2020 ($19,000 in 2019), subject to cost-of-living adjustments."
  • General Distribution Rules
    "Generally, distributions of elective deferrals cannot be made until one of the following occurs: you die, become disabled, or otherwise have a severance from employment; the plan terminates and no successor defined contribution plan is established or maintained by the employer; you reach age 59½ or incur a financial hardship."
  • Designated Roth Accounts
    "A designated Roth account is a separate account in a 401(k), 403(b) or governmental 457(b) plan that holds designated Roth contributions. Designated Roth contributions are elective deferrals that the participant elects to include in gross income.
    • Contributing to a Designated Roth Account
      "The combined amount a participant may contribute as pre-tax elective deferrals and designated Roth contributions each taxable year is limited. Total contributions to the plan are limited to $19,500 in 2020 ($19,000 in 2019) plus for employees age 50 or older, an additional $6,500 in 2020 ($6,000 in 2015 - 2019)."
    • Distributions
      "A qualified distribution from a designated Roth account is excludable from gross income. A qualified distribution is one that occurs at least five years after the year of the employee’s first designated Roth contribution (counting the first year as part of the five) and is made: on or after attainment of age 59½; on account of the employee’s disability; on or after the employee’s death."
  • 401(k) Resource Guide
  • 403(b) Tax-Sheltered Annuity Plans​

  • Publications

Calculators