Does your employer offer a 401(k), 403(b), or governmental 457(b) plan? These common retirement savings plans can help make the process of saving for retirement easier.
What does a 403(b) or 401(k) plan offer?
These plans can help you build your retirement savings with features like:
- Automatic payroll deductions to help you make saving a habit
- Reduced taxable income, since your pre-tax contributions lower your taxable income
- Matched contributions from some employers, up to a certain percent (check with your benefits administrator)
- Long-term savings and growth potential across a variety of the plan’s investment options
Does your employer offer a 401(k), 403(b), or a governmental 457(b) plan with services through Principal®? .