Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
401k questions
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Ms.PacMan" data-source="post: 493379" data-attributes="member: 4656"><p>401K is the tax code. It was originally thought of as a loop hole.</p><p> </p><p><strong><span style="font-family: 'TimesNewRomanPS-BoldMT'"><span style="font-size: 10px"><p style="text-align: left">1978 </p><p></span></span></strong><span style="font-family: 'TimesNewRomanPS-BoldMT'"><span style="font-size: 10px"><p style="text-align: left"></p><p></span><p style="text-align: left"></p><p></span><p style="text-align: left"><span style="font-family: 'TimesNewRomanPSMT'"><span style="font-size: 10px">The Revenue Act of 1978 included a provision that became Internal Revenue Code (IRC) Sec. 401(k) (for which the plans are named), under which employees are not taxed on the portion of income they elect to receive as deferred compensation rather than as direct cash payments. The Revenue Act of 1978 added permanent provisions to the IRC, sanctioning the use of salary reductions as a source of plan contributions. The law went into effect on Jan. 1, 1980. Regulations were issued in November of 1981. </span></span><a href="http://www.ebri.org/pdf/publications/facts/0205fact.a.pdf" target="_blank"><u>Source</u></a> </p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 493379, member: 4656"] 401K is the tax code. It was originally thought of as a loop hole. [B][FONT=TimesNewRomanPS-BoldMT][SIZE=2][LEFT]1978 [/LEFT][/SIZE][/FONT][/B][FONT=TimesNewRomanPS-BoldMT][SIZE=2][LEFT][/left][/SIZE][LEFT][/left][/FONT][LEFT][FONT=TimesNewRomanPSMT][SIZE=2]The Revenue Act of 1978 included a provision that became Internal Revenue Code (IRC) Sec. 401(k) (for which the plans are named), under which employees are not taxed on the portion of income they elect to receive as deferred compensation rather than as direct cash payments. The Revenue Act of 1978 added permanent provisions to the IRC, sanctioning the use of salary reductions as a source of plan contributions. The law went into effect on Jan. 1, 1980. Regulations were issued in November of 1981. [/SIZE][/FONT][URL="http://www.ebri.org/pdf/publications/facts/0205fact.a.pdf"][U]Source[/U][/URL] [/LEFT] [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
401k questions
Top