When you become eligible to join your organization's retirement plan, your employer should provide you with a Summary Plan Description (SPD). If you do not have a copy of your plan's SPD, you can obtain one from your Human Resources department. The Summary Plan Description is an abbreviated listing of plan provisions, including eligibility requirements, vesting rules for employer contributions and distribution rules.

Yes! Over 40% of retired Americans say they didn't save enough for retirement. An IRA is an excellent way to have savings in addition to Social Security and a company retirement plan.

Although we are reluctant to give specific investment advice on a retirement plan, we will go so far as to say that if your company has a matching plan, it is very important that you get the matching dollars. For example, if your company has a 3% match, that means that if you put in 3%, the company puts in 3%, and that is essentially "free money." It only makes sense to take advantage of that.

If you are about to receive a payout from your employer's retirement plan, you need to make an informed decision about placing your funds where taxes and penalties will not erode them. One place to consider is in a Traditional IRA (also referred to as a Rollover IRA).

A) Yes. Meisner Electric offers a generous 401K Plan, in which you can defer up to 15% of your gross pay. The Company will match your contribution 50% on the first 6% you contribute. The Company may also contribute a secondary match on your behalf at the end of the plan year. This is based upon the profitability of the company and is at their sole discretion. For plan information and eligibility requirements, please contact the Human Resources Department

A company sponsored retirement plan with a matching contribution by the employer is normally the best choice. Visit our Roth IRA Analyzer to find out which IRA may be best for you based on your situation.

of January 1, 2003 under IRS rules, you can generally contribute 100% of your Northwestern University salary up to $12,000, whichever is lower. Employees who have attained 15 years or more years of qualifying University service may make additional contributions above the limits specified in the table above if they failed to maximize their 403(b) contributions earlier in their employment.

Review Retirement Plan literature including the University's descriptive summary of the plan along with brochures and other materials published by TIAA-CREF and Fidelity Investments. Determine your retirement income goals - How much you feel you will need as income once you retire. Translate this figure to the amount you will need to contribute today in order to accumulate the necessary funds for the future.

There are many reasons for participating in the University's Retirement Plan including the fact that it is currently estimated that the Contributions you are making to Social Security will provide for only a small portion of the income you will need after you retire. The University's Retirement Plan is an excellent means of setting aside money you will need in the future.

Answer: You may change your fund allocation within Fidelity or TIAA-CREF simply by calling their customer service number, or you may establish a PIN (personal identification number) online and make changes directly on the Fidelity Web site or TIAA-CREF Web site. Answer: If you are interested in taking a course that is scheduled during your regular work day, your department chair or supervisor must sign your Tuition Remission form in order for the benefit to be approved.

First of all, I am note employed, so I don't know if there is such a thing like retirement for me, but if there is, I want to be a get-upper in Subway. What is this? You know, people fall asleep during the subway ride. I get them up when they need to get off. Especially at the Flushing-Main street stop, if you don't get off, you will be sent back to Times Sq. I am sure many people will appreciate my job.

For detailed information on housing specifically planned for older adults, including subsidized housing, we recommend that you first narrow your search to one or two areas of the state. Then contact the Area Agency on Aging for the county(ies) in which you are interested. The Area Agency on Aging can direct you to various local sources of information or send you a listing of types of housing in the area. You may also want to review our North Carolina Elder Housing Locator Service.

All qualified retirement plans are subject to Top Heavy rules (IRS Reg. §1.416-1). A defined contribution plan is a Top Heavy plan for a plan year if, as of the determination date, the sum of the account balances of participants who are “key employees” (see next question below) for the plan year exceeds 60% of the total plan assets. A plan that is determined to be Top Heavy must provide non-key employees with a minimum contribution of up to 3% of compensation (IRC 416(c)).

Any employee on the regular payroll who is scheduled to work half-time or more (17.5 or more hours per week) and is at least age 24 may participate in the University's Basic Retirement Plan and make contributions which will be matched by the University. Any employee who is at least half time or more may participate in the Supplemental Retirement Plan.

You can direct contributions to two investment companies, TIAA-CREF and/or Fidelity Investments These two investment companies offer a full range of diversified aggressive to conservative investment funds. Voluntary (unmatched) or Supplemental contributions may be directed by employees enrolling in the plan for the first time to the Group Supplemental Retirement Annuity (GSRA) contract offered by TIAA-CREF. Voluntary Contributions may also be directed to any Fidelity mutual fund.

The IRS takes the position that the money you contribute to the Retirement Plan is to be used as income after you retire. While the IRS encourages your participation by allowing you to make Contributions and receive associated earnings on a taxed-deferred basis, there are restrictions on when you may access accumulated funds.

Yes, (effective January 1, 1999) you may borrow against RA, GRA, GSRA and SRA and both Basic (matched) and Supplemental (unmatched) Fidelity Contributions.

We believe that the number of employees in the wrong retirement plan is very small. Agencies have discovered and corrected many retirement coverage errors. However, we are certain some employees still are in the wrong retirement plan. If you have not worked for the Federal government continuously since 1983, or you have had changes in appointment types and retirement plans, then you may want to ask your agency to review your retirement coverage to ensure that it is correct.

Which retirement plan you belong in depends upon the type of appointment you have and your work history. The rules can be complicated. Thats why some employees are in the wrong plan. Below are some of the common errors, broken down by retirement plan. Find your retirement plan, and see if you fit any of the situations listed. If you do, you may be in the wrong plan. But, remember there are exceptions to the general rules.

Answer: Your required contribution and the University's contribution to the Boston University Retirement Plan are not accessible to you for any reason prior to age 65, while you are employed at the University. However, you may withdraw funds from your Supplemental Retirement and Savings Plan to purchase your primary home. You will be required to pay a 10% tax penalty plus ordinary income tax on any funds withdrawn prior to age 59½, per Internal Revenue Service regulations.

With any metal components, you should have and follow a retirement plan for each piece of equipment that is appropriate for the equipment, and its usage. When in doubt, contact a professional rigger.

Can we borrow money from our retirement plan?A. No. You're only allowed to withdraw your retirement funds when: 1) You retire from the University. 2) You separate from the University.

No. There are no credible plans to replace Social Security as the foundation for the retirement of American workers.

Participation in the Retirement Plan requires the completion of the online enrollment process at hire and during Open Enrollment and afterward the submittal of a completed Retirement Plan Enrollment and Contribution Change Form as well the eatablishment of an investment company account which may be done online. Contributions will not commence until the enrollment process is completed.

The money you contribute to the Retirement Plan belongs to you and is immediately vested. When you leave the University, you take the amount you have accumulated with you. You will continue to earn interest and applicable dividends on such funds until you begin receiving annuity income at retirement or withdraw funds at an earlier date.

Yes! Although an MSA operates under many of the same rules that apply to traditional IRAs, it is not an IRA. In other words, an MSA is not a "retirement" plan--it is a "savings account" plan for medical expenses. Plus, unlike an IRA, there are no special income restrictions!

All State employees have to contribute to a retirement fund. Because UNM is an educational institution all employees are required by law to contribute to the Educational Retirement Board.