Your 401(k) Retirement Plan is a powerful way to save for a comfortable future through payroll deductions.
All eligible Mattamy team members can contribute to a 401(k) through Transamerica. In addition, Mattamy matches team member contributions, up to a set amount of your salary deferred to your 401(k). That’s free money for making your financial future a priority!
A 401(k) is a powerful resource for achieving financial independence. It’s a type of retirement savings plan that allows you to contribute a portion of your pre-tax salary to a retirement savings account.
With a traditional 401(k), contributions are made with pre-tax dollars, reducing taxable income. Taxes are paid upon withdrawal during retirement. With a Roth 401(k), contributions are made with after-tax dollars and withdrawals in retirement are tax free.
The IRS sets caps on how much can be contributed each year. Generally, you must wait until you’re at least age 59 ½ to access the money in your 401(k) without paying a penalty.