A 401(k) is one of the most popular retirement plans in America. Nevertheless, we’ve found that many workers sign up to participate in their company’s 401(k) program without reading all of the fine print. While that’s understandable—401(k)s can be a little difficult to understand—you need to know some basic facts before enrolling. Thankfully, we’re here […]
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What You Should Know About the Limits for DB/DC Combo Plans
Employers who offer retirement contributions are seen as more reputable and often have a better relationship with their employees. For rewarding their employees, businesses can get tax deductions from the government. But just like with most things related to the IRS, there’s some red tape surrounding contributions and deductibles. These things can get tricky, but […]
The Annual Deadlines for Making Contributions to Your Retirement Plans
Unless you’re a financial expert, fully understanding how the deadlines for retirement plan contributions work probably isn’t on the top of your to-do list. You’ve got plenty of things on your plate and monitoring your retirement plan can often fall to the wayside. But you must understand your deadlines to avoid paying a penalty tax, […]
How Can a 457(b) Plan Benefit Me?
When you work for state or local government—or an eligible tax-exempt organization—you are usually eligible for a 457(b) retirement plan. This is a tax-advantaged plan that allows you to grow your savings over time, similar to a 401(k) plan. However, there are some drawbacks that come with 457(b) plans. Here’s what you need to know […]
What Is a Cash Balance Plan, and How Does It Work?
If you’ve never used a cash balance pension plan before, you’re probably wondering what it is, how it works and how it differs from other pension plans. Saving for retirement is an important part of life, so it behooves you to understand your pension options. More importantly, if you’re a business owner, you need to […]