Once the ink is dry, you may face some limits on changing your agreement, but it's wise to check in with your HR or financial planner to understand your options.
It's as secure as a bank vault—sort of—but keep an eye on your employer's financial health, as your benefits may be tied to their assets.
Unlike standard plans, which have strict rules and limits, these agreements offer more flexibility in how much you can save and when you can access it.
Typically, they are designed for executives or employees earning above the normal contribution limits in retirement plans, giving them a chance to save extra.