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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 These contributions and any earnings from the 401(k) investments are not taxed until they are withdrawn.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 Wyoming, as in other states, an employer 401(k) plan is governed by federal law, specifically the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. Employers in Wyoming can offer 401(k) plans to their employees as a benefit, allowing them to contribute a portion of their pre-tax salary to selected investment options, usually mutual funds. The contributions made by employees, as well as any earnings on the investments, are tax-deferred, meaning they are not subject to federal income tax until the employee withdraws the money, typically upon retirement. It's important for both employers and employees to comply with the contribution limits, nondiscrimination requirements, and reporting obligations set forth by the IRS to maintain the tax-advantaged status of the 401(k) plan.

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Investments

Employer 401(k) plan

Individual & Family Legal Plan

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Wyoming State Code

Wyoming State Code

Investments

Employer 401(k) plan

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