You’ve worked hard all your life - your retirement years should be spent doing what you want, when you want. Retirement Plans help make that happen. You've taken the first step by having a retirement plan. We are pleased to have you as a participant and have created this site to connect you easily with the information you need for your retirement planning.
The Basics Of Retirement Planning
When planning your retirement, it is important to remember that money, more than any other factor, will dictate most of your retirement decisions. Your level of financial preparedness for your retirement years will determine when you retire, what type of lifestyle you and your family will enjoy during retirement, and what might be left as a legacy to your heirs.
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Traditional and Roth IRAs - Which is Right for You?
There is a wide variety of tax-advantaged ways for individuals to save for retirement. Because of their income tax benefits and because IRAs are so easily established, they have become one of the most often used retirement savings vehicles available today. Recent tax laws, however, have created three very unique types of IRAs - the Traditional IRA, the Non-Deductible IRA and the newer Roth IRA.
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Minimum Retirement Plan Distributions
Most qualified retirement plans offer significant tax benefits for those willing to follow a few IRS specified rules. The government wants to make these plans (401(k)s, Keoghs, SEPs and traditional IRAs) available for specific needs, and has established tax law to help eliminate potential abuses of these tax advantaged investment alternatives.
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Calculating Your Social Security Benefit
Social Security was originally introduced in 1935 in the aftermath of the Great Depression. It was intended to provide a safety net of income to retired and disabled workers and their families. Social Security is a mandatory plan, requiring most wage earners to contribute a percentage of their yearly income to support the program. In return, they, their spouses and sometimes their dependents are eligible for retirement, disability and survivorship benefits.
Today, over 95% of the people over 65 receive a Social Security benefit check. For many this monthly benefit represents their main source of retirement income.
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