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Key Takeaways. 401 (a) plans are generally offered by government and nonprofit employers, while 401 (k) plans are more common in the private sector. Often enrollment in a 401 (a) plan is...
The main difference between 401(a) and 401(k) retirement savings plans is in what type of employers offer them and how contributions work and are limited.
The main difference between 401(a)s and 401(k)s is that 401(k)s allow employees to make contributions with pre-tax dollars. 401(a)s may allow for employee contributions, but if they do, they will be with after-tax dollars—and may be required contributions.
The main difference is who participates: while 401(k) plans are intended for private sector employees, 401(a) plans are directed towards employees of government bodies, educational institutions...
401(a) and 401(k) plans are fairly similar in their purpose, but differ in a few crucial ways. In this guide we discuss how the plans compare.
With both 401(a) and 401(k) plans, workers can rollover their balance into a new retirement account or IRA if they leave their workplace. While each option provides valuable benefits,...
Key Takeaways. 401 (a) and 401 (k) retirement plans are covered by Section 401 of the IRS Code. 401 (a) plans can be offered by government, nonprofit, and educational organizations, while 401 (k) plans can be offered by private sector employers.
What’s the difference between a 401(a) and 401(k)? Is a 401(a) better than a 401(k)? Can you contribute to either option—and if so, how? Here’s what you need to know to make an educated decision about investing for your golden years.
The largest difference between 401(a) and 401(k) plans is the type of employers offering the plans. Whereas 401(a) plans typically cover government workers and employees from specific education institutions and nonprofits, 401(k) plans are offered by for-profit organizations.
What is the difference between 401k and 401a plans? The main difference is where you can invest your money. 401k's typically offer more investment options than 401(a) plans; however, some employers only offer investors access to a small number of limited funds with their 401(a), which provides fewer opportunities for growth.