We all know the importance of setting up a retirement plan and making regular contributions to it. What you might not know much about, though, are all of the different types of retirement plans out there. Cash balance plans are becoming increasingly popular among workers across the country. Continue reading to learn what they are […]
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, […]
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 […]
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 […]
Defined benefit plans are a type of employer-sponsored retirement plan. These plans differ from other qualified plans in that they incentivize both the employer and the employees. Employers are able to deduct contributions made to the plan, and employees will not owe taxes on those contributions until they start taking distributions from them (usually during […]
