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A Traditional 401(k) Plan may help you with recruiting and retaining employees. The Traditional 401(k) Plan allows eligible employees to contribute a portion of their own salary to a retirement plan. Salary deferrals can be pre-tax contributions (excluded from income for Federal Income Tax purposes) or Designated Roth Contributions (after-tax contributions and qualified distributions can be tax and penalty free). Employers have flexibility in contributions they make to the plan.
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