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With rising wages and a tight labor market, the last couple years have led many workers to switch jobs. That means many job-hoppers may have a 401(k) retirement plan with a former employer.
In 1961, the company changed its name to Automatic Data Processing, Inc. (ADP), and began using punched card machines, check printing machines, and mainframe computers. ADP went public in 1961 with 300 clients, 125 employees, and revenues of approximately US$400,000. [3] The company established a subsidiary in the United Kingdom in 1965.
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The IRS established the 401(k) as a tax-advantaged plan for employees, rather than the self-employed. This works fine most of the time, but in an era when people change jobs far more often than ...
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In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer. This pre-tax option is what makes 401 (k) plans ...
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American Data Processing (NAS: ADP) is probably best known for the monthly job numbers that it puts out every month. But ADP is a bit more than a company that tracks the trends in employment in ...