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401k Administration, Consultants & Advisors
Amber Lloyd - Retirement Management Services LLC
401k Administration in Louisville, KY
Amber Lloyd, the owner and Managing Member of RMS, is a native of Louisville, Kentucky. She is a seasoned consultant with 20 years of experience in the employee benefits field. Over the years, s...ESOP Marketplace connects you with local 401k Administration The 401(k) account is the common name in the United States for the tax qualified defined contribution pension plan account and takes its name from subsection 401(k) of the Internal Revenue Code (Title 26 of the United States Code). The section of the Internal Revenue Code that made 401(k) plans possible was enacted into law in 1978. The law was intended to allow taxpayers a tax break on deferred income. Contributions are "tax-deferred"—deducted from paychecks before taxes and then taxed when a withdrawal is made from the 401k account. Depending on the employer's program a portion of the employee's contribution may be matched by the employer. They are not the only type of employer-provided defined contribution pension plans, as other plans like 403(b) and 401(a) defined contribution plans have higher contribution limits. The laws are very complex, and require careful administration to ensure proper reporting and compliance testing. Our 401k Administrators listed also provide ESOP coverage as well.
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