saying something can only go to a certain extent while taking action from the words that your saying can be louder and more powerful than anything your saying.
Defined contribution plans are funded primarily by the employee, called the participant, with the employer matching contributions to a certain amount. The most common type of defined contribution plan, which many people are familiar with, is a 401(k) plan. A participant may elect to defer a portion of his gross salary via a pretax payroll deduction to the plan, and the company matches according to its summary plan description, or SPD.
Do you and/or your employer make contributions to a retirement plan such as an IRA, 401k, 403b, SIMPLE, or SEP plan? What exactly do we mean when we refer to retirement plan contributions? Retirement plan contributions consist of the money paid into the account by employees, employers, and the self-employed.