Contributions deducted directly from your paycheck make it easy to save and can reduce your taxable income for that year. Earnings grow quickly because they're tax-deferred.
Many employers also match the employee's own contributions up to a set limit.
Accountant An individual trained and knowledgeable in the profession of accountancy. The function of compiling and providing financial information primarily by reports referred to as financial statements. Accounting includes bookkeeping, systems design, analysis and interpretation of accounting information. Accounts Payable Obligations to pay for goods or services that have been acquired on open accounts from suppliers. Accounts Payable is a current liability in the Balance Sheet.