Establishing a retirement plan
An employer may establish a retirement plan for the benefit of its employees. The most common retirement plan is the 401(k) plan. When an employer establishes a 401(k) plan, the employer can set up the plan or consult a professional or financial institution (such as a bank, mutual fund provider or insurance company) to establish and maintain the plan. The employer needs to:
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•ÌýÌýÌýÌý adopt a written plan document
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•ÌýÌýÌýÌý set up a trust to hold the plan assets
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•ÌýÌýÌýÌý have a record keeping system related to the plan
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Web page updated on 17 Mar 2025 14:42