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457(b) Retirement Plan
Last Updated: July 10, 2025A 457(b) retirement plan is a tax-advantaged retirement savings plan for state and local government employees, as well as some nonprofit workers. Like 401(k) and 403(b) plans, it allows pre-tax contributions with tax-deferred growth until withdrawal, typically after age 59½. A standout feature is its flexibility: withdrawals can be made penalty-free upon leaving employment, regardless...
403(b)
Last Updated: July 10, 2025A 403(b) plan, also known as a tax-sheltered annuity (TSA), is a retirement savings plan designed for employees of public schools, nonprofit organizations, and certain religious institutions. Similar to a 401(k), it allows pre-tax contributions with tax-deferred growth until withdrawal, typically after age 59½. The 403(b) often emphasizes annuity-based investments, such as fixed or variable...
401(k)
Last Updated: July 10, 2025A 401(k) plan is a widely used employer-sponsored retirement savings plan that allows employees to contribute pre-tax income, with earnings growing tax-deferred until withdrawal, typically after age 59½. Named after a section of the U.S. Internal Revenue Code, the 401(k) is a cornerstone of retirement planning, particularly in private-sector companies. Employers may match a portion...
401(a)
Last Updated: July 10, 2025A 401(a) plan is an employer-sponsored retirement plan designed for employees of government agencies, nonprofit organizations, or select private companies. As a defined contribution plan, it allows contributions from employers, employees, or both, with retirement benefits based on investment performance. Unlike a 401(k), 401(a) plans often mandate employer contributions and may require employee participation. Contributions...
4-Day Work Week
Last Updated: July 10, 2025A 4-day work week is a modern work arrangement where employees complete their weekly hours in four days instead of the traditional five, often working longer daily hours (e.g., 10 hours per day) or, in some cases, fewer total hours without reduced pay. This innovative schedule enhances work-life balance, boosts employee productivity, and reduces workplace...
360 Survey
Last Updated: July 10, 2025A 360 Survey, also called a 360-degree feedback survey, is a structured tool used to collect performance feedback from an employee’s colleagues, supervisors, subordinates, and sometimes clients. This multi-rater approach provides a comprehensive assessment of an individual’s skills, leadership qualities, and workplace behaviors. Designed to promote employee development, 360 Surveys highlight strengths, identify improvement areas,...
147c Letter
Last Updated: July 10, 2025A 147c Letter is a document issued by the IRS to confirm an organization’s Employer Identification Number (EIN). It is typically requested by businesses or entities when they need to verify their EIN for tax purposes, such as when dealing with vendors, banks, or other institutions requiring proof of the EIN.
1099 Form
Last Updated: July 10, 2025A 1099 Form is a tax document issued in the United States to report income paid to non-employees, such as independent contractors, freelancers, or other self-employed individuals. It is used by businesses to report payments for services, rents, or other income to the IRS and the recipient, ensuring compliance with tax regulations. Common variants include...
360 Degree Feedback
Last Updated: July 10, 2025360 Degree Feedback is a performance appraisal method that gathers feedback on an employee’s performance from multiple sources, including peers, subordinates, supervisors, and sometimes clients or external stakeholders, in addition to self-assessment. This holistic approach provides a comprehensive view of an employee’s strengths, weaknesses, and overall performance, aiming to support professional development and improve organizational...