What is a 401(k)?

(NewsNation) — With a new year, it's time to start saving for retirement, no matter your age.Many employers provide retirement plans to full-time employees, and one of those is a 401(k), which stands for Section 401(k) of the U.S. Internal Revenue Code. This section established this retirement savings plan.
It's one of the most common types of employer-sponsored retirement accounts, in which the employee can allocate a percentage of their paycheck to automatically save in the 401(k). Some