Since 2005, 401kSupport.Com has helped many individuals make intelligent planning decisions about their 401K retirement plan with the 401K Planning information contained within our site we supply.

Your company will provide you with a list of the funds they use for their 401k retirement plan and give you the opportunity to decide which you want to invest in and the percentage to invest 401k retirement plan.

Your employee 401k retirement contribution plan will automatically be deducted from your pay check before taxes. Each employee can contribute up to a certain percentage of their pay into a 401k plan and some employers will match a percentage of your contributions.

When you join a 401K retirement plan, you tell your employer how much money you want to contribute to your 401k retirement account. This amount is deducted from your salary before taxes are applied, so you pay less income tax. More importantly, the money is deducted even before you have received it, making it the easiest savings plan to contribute to.

Your employer (usually) matches a portion of your 401k retirement plan contribution. The money is invested by the 401k plan administrator (on your behalf) in mutual funds, bonds, money market accounts, etc. You decide the mix of investments.

They usually have a list of investment vehicles you can choose from as well as some guidelines for the level of risk you are willing to take. Since the 401k plan is an incentive for retirement savings, there is one condition: if you withdraw the money before you are 59.5 years old, you will have to pay tax as well as a 10% penalty fine to the IRS.