A 401(k) plan can be one of your best tools for creating a secure retirement. This particular kind of retirement plan provides you with two important advantages: First, all contributions and earnings to your 401(k) plan account are federal-income-tax-deferred. Therefore, you only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your 401(k) plan account. The combined result is a retirement savings plan you cannot afford to pass up. Use Mutual of America's retirement savings calculator to learn the benefits of contributing to your 401(k) plan account.
To use this calculator, change entries and select “Calculate” to view new results.