Company pensions are often categorized as defined benefit (DB) or defined contribution (DC). A defined benefit plan states the specific benefit that a retiree will get. The calculation accounts for certain factors like how many years an employee has worked and the salary received, which dictates the pension one will get. A defined contribution plan […]
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How Much Should I Contribute to a 401k?
If you are fortunate enough to have a job with a 401(k) retirement savings plan, you may wonder, "How much should I put towards a 401k? Am I putting in too much, or not enough?" There are answers to these questions, and they depend on a few different scenarios. Let’s talk about the factors you […]
Tips for Choosing the Right Third-Party Administrator for Your Small Business 401(k)
As a small business owner, you may be invested in the future of your employees both while in your employment and after retirement. For that reason, you may choose to incorporate a 401(k) qualified retirement plan into your business. If you are unfamiliar with the process, you may find it very daunting. Which 401(k) qualified retirement plan […]
Financial Tips to Consider as a New Parent
If you and your spouse are having a child together, there can be a dizzying number of things to think about. Many of these concerns tend to center around money, which is why financial planning for new parents is so important. Financial planning with a newborn can be a seemingly Herculean task. You may not […]
Which Retirement Plan Is Best for You?
Many people work their entire lives with retirement as the goal. After decades of full-time work, it’s natural to want to be able to kick back, relax and spend time with your family during your golden years. The best way to ensure a comfortable retirement is to plan for it financially. Choosing the right retirement […]