By Investment U Research Team Recently employed as a civil servant or government employee? Congratulations—you’re likely eligible for a 401(a) plan! What is a 401(a) plan? It’s very similar to a traditional 401(k) retirement plan, with the caveat that it’s specifically available to government employees and, occasionally, nonprofits.
If you work in the public or nonprofit sector, it’s important to take full advantage of a 401(a) plan if offered one. These are powerful investment vehicles that add up to significant retirement savings over time with continued contribution. Here’s what you need to know about 401(a) plans, how they work and what makes them unique.
The …read more
