A 401(k), which is an employer-sponsored plan, allows employees to save for their retirement. It is a Defined Contribution Plan with some differences to Defined benefit plans gold IRA expert.
Retirees who are on a Defined benefit plan receive a fixed amount of money each month. This amount is determined by the retiree’s age, earnings, years of work, and their age. In order to meet future obligations, the employer bears the risk of contributing for the employee. The employee is responsible for the investment risk in the Defined Contribution.
The Tax Payer Relief Act of 1997 was approved. It made it possible for individuals to invest in precious metals through Individual Retirement Accounts. All metals are accepted, including silver, gold and platinum. Gold is the most preferred form of investment among the four metals.