A 401(k) plan is a tax-advantaged retirement account offered by many employers. There are two basic types—traditional and ...

A 401(k) is not a defined benefit plan. Instead, it is classified as a defined contribution plan. It is an employer-sponsored retirement savings that allows employees to contribute a portion of their ...

Borrowing from your 401(k) might sound appealing when you need quick cash. After all, the typical 401(k) loan interest rate is low — usually the prime rate plus 1%, and you’re essentially paying ...