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#Finterms: Roth 401(k)

A Roth 401(k) is an employer-sponsored retirement savings plan that combines features of a traditional 401(k) and a Roth IRA. Employees contribute after-tax dollars (i.e., income taxes are paid before money goes in), and qualified withdrawals in retirement are tax-free — including both contributions and earnings, as long as certain conditions are met.

#Finterms: Hardship Withdrawals

Hardship withdrawals from a 401(k) are early distributions taken due to an immediate and heavy financial need. They allow participants to access funds without permanently terminating employment, but they come with strict rules and consequences.

#Finterms: Employee Stock Ownership Plan (ESOP)

An Employee Stock Ownership Plan (ESOP) is a retirement benefit plan that allows employees to become beneficial owners of stock in the company they work for.

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Categories

#Finterms: Roth 401(k)

#Finterms: Hardship Withdrawals

#Finterms: Employee Stock Ownership Plan (ESOP)