I might take a software contracting job, and the agency has a 401(k) plan, but just 0% matching.
But it seems a little bit weird: what does it mean, is it a way for us to put more money in than an IRA or Roth IRA?
IRA and Roth IRA also has a limit that, when our salary is more than some amount per year, we cannot put any money into an IRA or Roth IRA, so I think the 401(k) with no matching provides a way to put money in?
But overall I don't quite understand it: it feels somewhat strange to be limited to how much money we want to save for investment for the purpose of retirement. It is like, if I want save more money for the purpose of retirement, no, the rule mandates that you cannot do that. The rule sets up an amount and you cannot save more than that. (I can save money outside of IRA or Roth IRA or 401(k), but if I sell the stock of Bank of America and buy the stock of Citibank, and I need to immediately pay tax on any gain, and it totally defeats the purpose of saving for retirement).