How Employers Can Help Their Workers Achieve Comfortable Retirement in a Tough Economy

Posted by on Feb 14, 2013 in Employee Benefit Program, Retirement | 0 comments

  Researchers have been trying to discover how American workers and employers offering retirement plans weathered the economy from 2007 through 2012. Although most people would expect nothing but bad news, there is also a surprising amount of good news to report. Researchers are hopeful that their findings will shed light on situations that can be further improved to help workers adequately prepare themselves for retirement. They also believe this can be achieved without massive legislation or reform measures. While employers have had to cut raises or even staff members during the Great...

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Creating NonQualified Executive Benefits Plans

Posted by on Dec 30, 2012 in Retirement | 0 comments

  Most people in business are by now familiar with the standard menu of “qualified” retirement plans and health and welfare benefits for employees. The term “qualified” means they are compliant with the requirements set forth by the Employee Retirement Income Security Act of 1974 (ERISA). When Congress took steps to regulate workplace pensions, and to grant businesses tax incentives to set up these plans, they did not intend for all the benefits to accrue to company owners. As a result, retirement plans such as the 401(k)s, SIMPLE IRAs and SEP plans. as well as...

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The Benefits of HSA Contributions in 401(k) Plans

Posted by on Dec 18, 2012 in Health, Retirement | 0 comments

  Workers in the United States who are part of a health savings plan, which is commonly referred to as an HSA, built more than twice as much in their 401(k) plans as average participants last year. This statistic came from a study performed by Fidelity Investments regarding the 401(k) and HSA plans they manage. The study analyzed the data from account balances of almost 11 million participants’ corporate contribution plans. In addition to this, approximately 48,000 individuals holding an HSA account were surveyed. The HSA account holders had an average 401(k) balance of $175,500...

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Other Ways To Save For Retirement

Posted by on Nov 26, 2012 in Retirement | 0 comments

Besides periodic IRA contributions and elective salary deferrals into 401(k) and 403(b) plans, there are other ways to amass retirement savings, some of them often overlooked. Put tax refunds & tax savings to work. If you get a few hundred back from the IRS, that is not an insignificant sum. You could save it or you could invest it with the potential to compound that money. The same goes for the dollars you save as a result of tax credits or tax breaks. Relocation. Ever thought about living where lifestyle costs are less? Moving to a cheaper part of the country might cost you a few...

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Why You Should Keep Contributing to your 401(k)

Posted by on Nov 19, 2012 in Retirement | 0 comments

There is seldom a dull moment on Wall Street. Stocks may rise or fall dramatically over the course of a year or a decade. Sometimes, breaking news may tempt you to pull money out of your 401(k) or greatly reduce your contributions. If you’re considering such a move, think twice. Don’t stop saving for retirement. Even if you think you’re wealthy enough to forego putting money in your 401(k) for a while, you could end up seriously shortchanging your retirement savings potential by reducing your retirement plan balance or elective salary deferrals. A 401(k) plan is a terrific retirement...

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The Internal Revenue Service’s New Contribution Limits

Posted by on Nov 12, 2012 in Income Protection, Retirement | 0 comments

The Internal Revenue Service recently announced that contribution limits for employees who have certain types of plans were raised. The affected plans include 403(b), 401(k) and some 457 plans. In addition to this, thrift savings plans sponsored by the government were also affected. For these plans, the contribution limits were raised by $500. Catch-up limits for people who are 50 years of age or older and participate in these plans remained the same. Since the cost of living increased enough to warrant an adjustment, the IRS decided it was time to change the limits for several types of...

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