Financial Glossary

The annual defined contribution limit is the maximum amount that can be added to a retirement account in a single year. This includes contributions from both the employee and the employer. It applies to plans [...]

A deferral contribution is money you choose to set aside from your paycheck and put into a retirement plan, like a 401k, before you get paid. Instead of receiving that money as part of your [...]

Catch-up contributions are extra amounts that people age 50 or older are allowed to add to their retirement accounts each year. They’re designed to help those getting closer to retirement save more, especially if they [...]

A 401k recordkeeper is the company responsible for the day-to-day administrative tasks of a 401k retirement plan. They track participant contributions, maintain records of investments and account balances, issue account statements, and help ensure the [...]

A 401k rollover is when you move money from an old retirement plan into a new one, like from a previous employer’s 401k to a new 401k or an IRA. This usually happens when you [...]

401k matching contributions are extra funds your employer adds to your 401k retirement account based on how much you contribute from your own paycheck. For example, if you put money into your 401k, your employer [...]

A Solo 401k is a retirement savings plan for people who work for themselves or run a small business with no full-time employees other than a spouse. It lets you save for the future in [...]