Plain-English definitions for the terms you'll encounter on your financial journey.
A retirement savings plan sponsored by an employer that allows workers to invest a portion of their paycheck before taxes.
A type of 401(k) plan that automatically satisfies certain IRS fairness tests by requiring the employer to make specific contributions.
A 401(k) plan designed specifically for business owners who have no employees other than their spouse.
The Thrift Savings Plan is a retirement savings and investment plan designed specifically for federal employees and members of the military, similar to a 401(k) plan in the private sector.