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Employer 401(k) plan

An employer 401(k) plan is an employer-sponsored retirement savings plan that gives employees a choice of investment options—typically mutual funds. Employees who participate in a traditional 401(k) plan have a portion of their pre-tax salary invested directly in the option or options they choose. These contributions and any earnings from the 401(k) investments are not taxed until they are withdrawn.

In New Hampshire, as in other states, an employer 401(k) plan is a common retirement savings vehicle that allows employees to contribute a portion of their pre-tax salary to selected investment options, often including mutual funds. The contributions made to a traditional 401(k) plan, along with any earnings from the investments, are tax-deferred, meaning they are not subject to federal or state income tax until the employee withdraws the funds, typically upon retirement. The regulation of 401(k) plans is primarily at the federal level, governed by the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. New Hampshire state law does not specifically regulate the details of 401(k) plans but does require employers to follow the federal guidelines. Employers offering 401(k) plans must comply with non-discrimination testing to ensure that the benefits of the plan do not favor highly compensated employees over others.

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Employer 401(k) plan

Individual & Family Legal Plan

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New-Hampshire State Code

New-Hampshire State Code

Investments

Employer 401(k) plan

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