A 401(k) is only as good as the amount of money a participant puts into it on a regular basis.
But when a severe illness or a major accident strikes, employees and their families not only have to reexamine their finances to cover their medical bills, they also frequently give up on the forward motion of their 401(k)s – endangering their retirement plans even more severely.
A new disability insurance plan offered by Corporate Compensation Plans, Inc. seeks to bridge those two issues – DI coverage and continuance of 401(k) coverage – by providing the ability to continue deferrals to a 401(k) through the covered employee's illness, accidents or strokes.
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