1:50 AM
What does it mean?
A
type of annuity that allows an employee to make contributions from his
or her income into a retirement plan. The contributions are deducted
from the employee's income and, as a result, the contributions and
related benefits are not taxed until the employee withdraws them from
the plan. Because the employer can also make direct contributions to the
plan, the employee gains the benefit of having additional tax-free
funds accruing
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