401a vs 401k

difference-between-401k-and-401aWhen it comes to retirement savings plans, 401(k) and 401(a) are the two a lot of you should really look into. Just as their names suggest, although based on the same tax code “401”, they are with the different suffixes of “k” and “a”, which also indicates that they are something different. While they are closely related to the interest of both employers and employees, unfortunately many of you haven’t the slightest inkling about them even though you have already participated in these accounts for years. That is partly because the daunting, unfathomable legal terminology. In this case, now let’s analyze their difference carefully and then explain them in simple terms. Continue reading 401a vs 401k