401(k) Defined Contribution for Medical Professionals

A 401(k) is the most common kind of defined contribution retirement plan.

Here is the overview: The business and its employees determine how much to contribute, then the employer puts the money into an individual investment account on the employee’s behalf.

The investment happens painlessly through payroll deduction: Employee’s decide what percentage of your salary the individual would like to contribute and, from then on, that amount comes straight out of your paycheck and goes into your account automatically, without you having to lift a finger. The employee’s paycheck will be smaller as a result – though not as small as you might think, thanks to the tax benefits involved.

About Idaho Medical Association

The Idaho Medical Association now exceeds 2,500 members of medical professionals through the state of Idaho. All of these medical professionals meet the association’s strict membership requirements. Our financial services group is uniquely skilled to provide the utmost wealth management services optimized for medical professionals like those throughout the association.