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Understanding the Basics of a 401k Plan

With open enrollment season just around the corner and 67% of private industry employees having access to retirement plans, understanding how a 401k plan functions is crucial for optimizing savings.

In a new CNN article, Ara Diloyan breaks down the basics of a 401k plan and how they differ from other employee benefit plans such as health insurance. He explains how features such as an escalating matching program and auto-escalation can help participants reach their savings goals.

"If you can afford to do so, certainly put at least the minimum amount to get the full contributions from the company. Otherwise, you’re leaving free money on the table." – Ara Diloyan

Interested in learning more? Check out the full article on CNN.

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