Employer-sponsored Retirement Plans

Employer-sponsored retirement plans are savings programs offered by employers to help employees prepare for retirement. These plans, such as 401(k)s or pensions, allow employees to set aside a portion of their earnings, often with contributions from the employer as well. The money invested grows over time, benefiting from tax advantages. Employees can typically choose how their savings are invested, and these plans provide a structured way to accumulate savings for the future, ensuring financial security during retirement.