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Investments

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 These contributions and any earnings from the 401(k) investments are not taxed until they are withdrawn.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 West Virginia, as in all states, an employer 401(k) plan is a retirement savings vehicle that is governed by federal law, specifically the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. Employers who offer a 401(k) plan provide their employees with a selection of investment options, which often include a variety of mutual funds. Employees can elect to defer a portion of their pre-tax salary to be invested in these funds. The contributions made to a traditional 401(k) plan, along with any investment earnings, are tax-deferred, meaning they are not subject to federal (or state) income tax until the employee withdraws the money, typically after reaching retirement age. It's important for both employers and employees to comply with the contribution limits, nondiscrimination requirements, and other regulations set forth by the IRS to maintain the tax-advantaged status of the plan.

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Investments

Employer 401(k) plan

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West-Virginia State Code

West-Virginia State Code

Investments

Employer 401(k) plan

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