A Publication of WTVP

The 401(k) salary deferral plan, which allows employees to set aside money each payday on a tax-deferred basis for retirement, has become the major retirement planning vehicle for many employees. Many employers make pre-tax matching contributions to the accounts of employees who join the plan, and most 401(k) plans allow employees to make their own investment decisions from among a variety of choices.

Tax and pension laws generally do a good job of ensuring the protection of your 401(k) plan. However, it’s always wise to monitor your own account and to learn as much as possible about its accounting and how your retirement money is working for you. 

How can you keep track of all of the activity in your retirement account and be sure the accounting is accurate? Here are seven suggestions from the U.S. Department of Labor.