A Detailed 401(k) Resource Guide: 2023
<p>When you establish a 401(k) plan, you must take certain basic actions. One of your first decisions will be whether to set up the plan yourself or to consult a professional or financial institution such as a bank, mutual fund provider, or insurance company to help with establishing and maintaining the plan. In addition, there are four initial steps for setting up a 401(k) plan:</p>
<ul>
<li>Adopt a written plan document,</li>
<li>Arrange a trust for the plans assets,</li>
<li>Develop a recordkeeping system, and</li>
<li>Provide plan information to employees eligible to participate.</li>
</ul>
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