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The Benefits of a Qualified Plan, the Enjoyment Factors in Retirement
Payroll Deduction for Retirement Savings is a Needed Discipline
The main benefit is saving for retirement. Employers who perform economic due diligence on the use of defined benefit plans, defined contribution plans or a combination on both are likely to design the optimal retirement scheme for their company and employees. Often employers use the benefits to recruit top talent and retain skilled employees that are highly valued.
Many times those who generate income for the firm are called “rainmakers” and are highly sought after in competitive markets. Even highly organized operational experts that run the day-to-day operations are of equal value to a company. Some organizations use additional compensation perks that are generally discriminatory and categorized as non-qualified plans to lure major players in the market place and retain the bench strength of their existing personnel.
Qualified plan benefits can save significant tax dollars every year. In addition, defined contribution plans like 401(k)s allow individuals to defer up to $18,000 of income (2017 limit). And for older contributors ages 50 or more can contribute an extra $6,000 into your 401(k) plan in 2017. The sum of employer contributions and your salary deferral contributions cannot exceed $54,000 in 2017 ($60,000 for individuals over 50 years of age in 2017).
Jodie Dailey is a co-contributor to this press release.
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Establish Your Financial Timeline Based On Approximating Your Life Span
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Released On: 12/25/2019
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Baby Boomers Must Create a Retirement Budget or Risk Losing Control of their Money
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Released On: 12/24/2019
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Life Has Milestone Events That Have A Financial Impact
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Released On: 12/23/2019
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Released On: 12/20/2019
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Longevity Risk is its Own Risk Multiplier of Every Other Retirement Risk
Living longer is exacerbating over a dozen other retirement risks that threaten the vast majority of retirees and those near retirement. If the status quo continues, the retirement lifestyle of most seniors will be severely pared back. Watch the ...
Released On: 12/19/2019
Views: 1834
Almost All Retirement Plans Need Serious Updating in Light of the Mortality Revolution
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Released On: 12/18/2019
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Bonds Have Interest Rates, Stocks their Dividends, Annuities Longevity Credits
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Released On: 12/17/2019
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Shock! The Age Wave is Upon Us and We’re Not Ready
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Protecting Social Security Benefits from Taxation
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Released On: 12/13/2019
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Collateralized Loans from Cash Value Life Insurance Policies & Home Equity Could Be Tax Free
Collateralized loans are not characterized as income and are not reportable, as such, on your 1040 form. And because these loans are not forms of taxable income, they are not counted for the provisional income test for Social Security taxation. W ...
Released On: 12/12/2019
Views: 1935
Tax Management in Retirement Requires Tax Management During the Contribution Period
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Released On: 12/11/2019
Views: 1738
Taxes in Retirement is the #1 Threat in Retirement Cash Flow
Most American workers don’t comprehend the realities of retirement until they’re a few years from retirement date, which is often too late. They’re just too busy dealing with immediate financial pressures to understand the long-haul consequences ...
Released On: 12/10/2019
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Retirement Facts, Stats and Hacks for the Next Generation
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Released On: 12/9/2019
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Uncle Sam Owns a Chunk of Your Retirement Accounts
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Released On: 12/6/2019
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Guaranteed Income You Can’t Outlive Can Mitigate Market & Longevity Risk
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Released On: 12/5/2019
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How to Retire Happy
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Released On: 12/4/2019
Views: 1440
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