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What is a 401k?
A 401(k) plan is a retirement saving plan offered by employers for their employees.
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Many 401(k) plans have a matching incentive where an employer will match funds that their employees contribute to the 401(k) plan. The matching incentive is designed to motivate employees to contribute funds to the retirement savings plan. |
Traditional vs. Roth Contributions
You have 2 choices for the portion of the 401(k) contribution that that’s deducted directly from your paycheck.
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Roth tax savings do not apply to the employer match and interest earned on the match. |
Getting Started Saving for Retirement
After 1 year of service with Reliant, you’ll be automatically enrolled in the 401(k) retirement savings plan.
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You will have the option to log on to Principal.com and change your contribution amount at any time. |
Important things to know about the 401k plan
Reliant offers matching your contributions up to 5% of your salary!
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It’s like opting to receive a special bonus every month that goes directly into your retirement savings account and that the government doesn’t tax you on (until retirement). That’s smart!
Investment Options
The 401(k) Plan has over 20 different investment options for you to choose how your money is invested.
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