Introduction to How to Contribute to Retirement Plans

At first glance, a list of common employer retirement plans may read like an alphanumeric soup—ESOP, 401(k), 403(b), etc. Yet understanding the basics of these plans is not difficult and can help you plan wisely for your future. Knowing how you and your employer may contribute to these retirement plans can help you evaluate a job offer, take full advantage of your retirement plan options, and make wise decisions about your future. In short, understanding how—and how much—both you and your employer can contribute to these plans can help you achieve your long-term financial goals.