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(989) 733-6522
Serving Onaway, Cheboygan, Rogers City and Indian River
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Real Estate Glossary

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401(k)/403(b)
An employer-sponsored investment plan that allows individuals to set aside tax-deferred income for retirement or emergency purposes. 401(k) plans are provided by employers that are private corporations. 403(b) plans are provided by employers that are not for profit organizations.
401(k)/403(b) loan
Some administrators of 401(k)/403(b) plans allow for loans against the monies you have accumulated in these plans -- monies must be repaid to avoid serious penalty charges.
P.O. Box 478, Junction M-68 & M-33, Onaway, 49765                 Phone: (989) 733-6522      Fax: (989) 733-2427
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