401k
A 401k is a type of employer-sponsored retirement plan. It is a way for employees to save for their retirement by having a certain percentage of their paycheck withheld by their employer and deposited...
View ArticleRetirement Plans
Is it possible to put more away in your retirement plan. Yes, with the Cash Balance Plan. The CBP is a hybrid of a traditional defined benefit plan and a 401(k) plan. This combination is often a good...
View ArticleWhat is a SIMPLE IRA?
What is a SIMPLE IRA? A SIMPLE IRA is an employer-sponsored retirement plan. It stands for “Savings Incentive Match Plan for Employees”. Who can set up a SIMPLE IRA work? A company with fewer than 100...
View ArticleWhat is a SARSEP?
A SARSEP was an employer-sponsored retirement plan limited to state and local governments. Private businesses could not establish SARSEP, and SARSEPs can no longer be established. 1997 was the final...
View ArticleWhat is a Thrift Savings Plan?
What is a Thrift Savings Plan (TSP)? A thrift savings plan, commonly referred to as a “TSP,” is a retirement plan that was created as a result of the Federal Employees Retirement System Act of 1986....
View ArticleWhat is a Tax-Sheltered Annuity?
What is a Tax-Sheltered Annuity? A tax-sheltered annuity is an account where you can deposit some of your pre-tax dollars for the purpose of long-term savings. The money deposited in the annuity is not...
View ArticleWhat is the Teacher Retirement System?
What is the Teacher Retirement System (TRS)? Teacher retirement systems are offered by individual states, for the purpose of offering pension and retirement benefits to teachers and other qualifying...
View ArticleWhat is a Term Certain Annuity?
What is a Term Certain Annuity? A term certain annuity is an insurance product which is designed to provide a person with predetermined payments over a designated period of time. Term certain annuities...
View ArticleWhat is a 408(k) Plan?
408(k) Plan There are numerous financial planning tools to choose from, but not all plans are able to be offered by every employer. There are restrictions and limits which must be followed, including...
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