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401(k) Plan
A 401(k) plan is a retirement plan sponsored by employers. Employees may choose to have a portion of their salary deferred to any of the 401(k) investment choices selected by the employer. The employer may also contribute to the employee’s 401(k) by matching a portion of the investment (for example, $.50 for every $1.00 the employee invests). The investments to which the tax deferred contribution is made may include stocks, bonds, money market funds, and company stock. Employee contributions to the 401(k) are subtracted from the employee’s gross income. The maximum amount allowed to be contributed to a 401(k) changes annually. If money is withdrawn from the 401(k) before the employee turns 59 1/2, the individual may have to pay penalties. If the individual changes jobs, the monies in the 401(k) may be rolled over to a 401(k) of the new employer or to an Individual Retirement Account (IRA).

403(b) Plan
A 403(b) plan is a tax deferred retirement plan much like a 401(k) plan described above but for public schools, colleges, and universities as well as charitable entities tax-exempt under 501(c)(3) of the IRS Code.

Fiduciary
A fiduciary may is an individual, corporation or association holding assets for another party, often with the legal authority and duty to make decisions regarding financial matters on behalf of the other party. A financial advisor held to a fiduciary standard occupies a position of special trust and confidence when working with a client.

Front-end Load
A front-end load is a sales charge applied to an investment at the time of is initial purchased. Investments that may require a front-end load include mutual funds, annuities, and life insurance policies.
 



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www.crossroadscapitalmgmt.com                     pjjalbert@crossroadscapitalmgmt.com