spencerjkraft spencerjkraft

23-02-2018
Business

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What is the biggest difference in who makes the contributions to 401(k) and IRA retirement plans?

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Purple4dub Purple4dub

23-02-2018

In a 401k the employer usually matches a percentage and if you are lucky dollar for dollar, where in an IRA it is does an an extra option with a set amount of money usually 2500 or more for each IRA contribution.

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springsjesse springsjesse

16-12-2020

Answer:

The biggest difference is that a 401k plan has a limited set of options, as opposed to an IRA plan that has virtually unlimited choices of investment options. The individual has more control over an IRA plan that a 401k plan. In a 401k plan, there is a plan fiduciary and a plan sponsor, whereas an IRA plan has neither.

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Got a 100% on the Edg 2020

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