ARTICLE
18 November 2016

ERISA Basics National Institute: Section 401(k) Plans

MW
McDermott Will & Emery

Contributor

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A 401(k) plan has a qualified cash or deferred arrangement that is part of a profit sharing plan or stock bonus plan.
United States Employment and HR

A 401(k) plan has a qualified cash or deferred arrangement that is part of a profit sharing plan or stock bonus plan. Under the Internal Revenue Code Section 401(k)(2), an employee may elect to make contributions to the plan, the covered employee's contributions are not distributable before severance from employment, disability, death, attainment of age 59 ½, financial hardship, or termination of the plan, and under which the covered employee's contributions are nonforfeitable.

This presentation will address the following objectives:

  • Who gets the money?
  • What money do they receive?
  • Where does the money go?
  • When do they get the money?
  • How is the money administered?

View the presentations slides.

ERISA Basics National Institute: Section 401(k) Plans

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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