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Imagine you just attended the Human Resources orientation at your new job, and y
Imagine you just attended the Human Resources orientation at your new job, and you learned that your employer offers a defined contribution retirement savings plan: a 401(k). Your employer will match 100% of your contributions to the plan up to a maximum of 5% of your salary. You are offered two options: A traditional 401(k) which allows you to contribute pre-tax money and defer paying taxes until you begin taking withdrawals in retirement A Roth 401(k) which allows you to contribute money that has already been taxed and take tax-free withdrawals in retirement You are also offered the option of choosing to increase your initial contribution amount by 1% annually to a maximum of 15% of your salary. Address the following prompts: Will you choose the traditional 401(k) or the Roth 401(k)? What factors did you consider in making your decision? What percentage of your salary will you contribute? Provide a specific rationale for your decision. Will you choose the automatic 1% annual increase to your contribution? Provide a specific rationale for your decision. Cite any references in APA format. In responding to your peers, respectfully explain where you concur with their decisions, where you have a different opinion, and why. To complete this assignment, review the Discussion Rubric.
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