401 K Plan

[baabee_r]

Hi Guys

Did anoone know about 401K plan? How can I contribute to that plan?

Can I get some tax benifits through my contribution?

Appreciate your response

Thanks

[leifbooger]

Your employer needs to offer the 401K plan. If they do, then you can put a small percentage of paycheck every pay period into the 401K account which is pre-tax. Some employers match your amount i.e. they put in an equal amount into your 401K account. If your employer does not offer 401K, you could open an IRA account which also offers tax benefits.