401(k)
A 401(k) plan is a qualified deferred compensation plan which enables you to save money, lower taxes, and invest in your financial future. Under a 401(k) plan, your elective contributions are made on a before tax basis; that is, the amount deferred will be excluded from your taxable income. This may currently lower your taxes. The following are some advantages of our 401(k) plan.
- Elective deferrals are voluntary and the amount you contribute is up to you. (Federal Law limits the deferral to 100% of salary to a maximum of $17,000 in 2011.).
- Deferrals are made before tax; therefore, you pay less in Federal and State income taxes
- Earnings and income are not taxed until the money is distributed from the plan. When you receive your retirement benefit you may be in a lower tax bracket than you are currently.
Securities offered through Lincoln Financial Securities Corporation, Member SIPC to residents of California and Florida. Lincoln Financial Securities Corporation and its representatives do not offer tax or legal advice. You should consult your individual tax or legal professional regarding your individual circumstances. Some life insurance and annuity policies involve exclusions or limitations. For costs and complete details of coverage, contact your agent. Lincoln Financial Securities and Pacific Standard Insurance are not affiliated. In CA, insurance may be offered through LFS Marketing & Insurance Sales Corporation