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A 401k plan is a retirement account to which employee and employer contribute on which taxes are deferred until withdrawal and for which the employee selects the types of investments As with anything to do with the Internal Revenue Service the 401k plan has many ups and downs and many regulations that must be followed This makes things more difficult for both the employer and employee in making decisions about the plan We have taken a look at the advantages and disadvantages of the plan from both sides of the table to show what all is involved in deciding to use a 401k plan We then give a comparison and contrast of two major companies that use this plan as an option to their employees and weigh the good and bad points of their particular plan With this information it makes things a little clearer as to whether or not a 401k plan is the definite way to go First we take a look at the advantages to the employers to see if it is worth it for them to offer this plan to their employees The low cost of the plan makes it very desirable No employer contributions are necessary because the plan can be entirely funded with contributions from your employees salaries Companies do not have to offer any vesting options unless they want to If they believe that the employee does not find vesting to be that important then the employer can just basically set up the plan for their workers and that alone gives the employee a since of convenience Many employers set up 401k plans because they are popular and offering one may help them attract and retain good employees Many college students today are more familiar with retirement plans and may chose to work for a company based on benefits the company may offer A 401k plan could bring these college students to an employer so it is
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