Empower Pragati Order Management Specialist,order Processing Specilist Interview Questions and Answers

401k is a retirement savings plan sponsored by an employer.

• 401k allows employees to contribute a portion of their salary to a tax-deferred investment account.

• Employers may also contribute to the account, either matching the employee's contribution or making a set contribution.

• The funds in the account can be invested in a variety of options, such as stocks, bonds, and mutual funds.

• Withdrawals from the account are typica...read more

401k is a retirement savings plan sponsored by an employer.

• 401k allows employees to contribute a portion of their salary to a retirement account

• Employers may match a portion of the employee's contribution

• Withdrawals before age 59 1/2 may result in penalties

• Contributions are tax-deferred until withdrawal

• Maximum contribution limit for 2021 is $19,500

• Catch-up contributions are allowed for those over 50 years old

403B is a retirement savings plan for employees of non-profit organizations, schools, and government organizations.

• Similar to a 401(k) plan, but for non-profit organizations

• Contributions are made pre-tax, and taxes are paid upon withdrawal

• Employers may also contribute to the plan on behalf of employees

• Withdrawals before age 59 1/2 may result in penalties

• Examples of organizations that may offer 403B plans include univer