Summary of 401(k) Today
Designing, Maintaining & Maximizing Your Company's Plan
Prudent use of a 401(k) savings plan can earn five times the retirement money you might have otherwise enjoyed — but you still have to be vigilant about vendors, fees, management and investments. Heads up!
With all the political strife surrounding the impending demise of the U.S. Social Security system, it’s refreshing to spend some time thinking about a retirement savings system that is an unqualified success - 401(k). This well-written book offers a clear and straightforward look at the ins and outs of 401(k) - and believe us, there are more of these than you probably know. Although author Stephen J. Butler kept the jargon minimal, this is not light summer reading, but you’ll be glad you upgraded. By the time you put it down, you will understand enough to make sure your 401(k) vendor isn’t pinching pennies from your nest egg. You’ll know what to ask for, what to invest in, and how plans should function. getAbstract recommends this book to those responsible for designing and running 401(k) plans and to those participating in one. (Applies to United States tax laws only.)
In this summary, you will learn
- Why a 401(k) plan is one of the best ways to save for retirement
- How the right plan will offer solid returns with minimum costs and risks
- Why you should leave your money alone — early withdrawal can be very costly
About the Author
Stephen J. Butler is the founder of Pension Dynamics Corporation, a third-party pension administration firm in Northern California that specializes in implementing 401(k) plans. He also is a popular speaker who is well-known within the pension industry.
Comment on this summary
Customers who read this summary also read
Helaine Olen and Harold Pollack
Applewood Books, 1986
Norton Reamer and Jesse Downing
Columbia UP, 2016