What You Should Know About Your Retirement Plan

401(k) Plans for Highly Compensated Employees: What You Should Know

Contents:

  • 5 things you should know about target-date funds
  • Preparing for Retirement - Greer Financial Group, LLC
  • Information Menu
  • Average Expense Ratios Fall for Target Date Funds
  • What to Read Next
  • Roadmap to retirement

    • As a retirement fund member, you have the option of nominating beneficiaries to give the trustees an indication of how you want your death benefits distributed when you die. Although the decision still rests with them, the best thing that you can do is to make sure that your nominated beneficiaries are up to date. Try working towards reducing your biggest and highest-interest debt as soon as possible such as your home loans, vehicle finance etc.

    Probably one of the biggest incentives to encourage you to save is the tax deduction the government allows for contributions to an approved retirement fund.

    5 things you should know about target-date funds

    Currently, you can contribute up to This is limited to a maximum of R, for the year of assessment. The big win here is that you may end up paying less tax or get tax back from SARS just by saving for retirement, while at the same time moving closer towards your retirement goal. For more information or if you have any questions please speak to your financial adviser.

    Alternatively, contact our Client Services Team on or email us at query prudential.

    Preparing for Retirement - Greer Financial Group, LLC

    You are currently viewing as a: Even in an ideal world, where every target-date fund was composed with investors' best interests in mind, you'd still risk losing principal. That's true anytime you go beyond totally safe investments like CDs and savings accounts.

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    Broadly speaking, domestic stocks are riskier than bonds, and international stocks are riskier than domestic stocks. Looking at how a fund is allocated to these asset classes will give you an idea of how much risk it takes.

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    And funds with the same target date will perform better in some years and worse in others compared with their peers, based on how their underlying investments perform. When evaluating a target-date fund, you need to understand its glide path, or how the fund's asset allocation is supposed to change as you age. Over the next four decades, Fidelity will gradually shift your asset allocation to include more bonds and short-term funds and fewer stocks.

    That allocation continues to become more conservative during your retirement years.

    Because the glide path changes the fund's asset allocation, the fund may end up selling at lows and buying at highs. Investors are then less likely to recoup their losses than if they held the same investments outside of a target-date fund and waited to sell until the market improved. Keep in mind, you have the power to adjust your own risk by investing in a fund outside your own retirement timeline. If you want more potential for gains, invest in a fund with a target date further out; for less risk, invest in a fund with a closer target date.

    Retirement plan participants who chose target-date funds or other professional help in the form of managed funds or online advice saw 3.

    Information Menu

    U.S. Department of Labor's Employee Benefits Security Administration is an important resource to help you understand your retirement benefits. The Consumer. What You Should Know About Your Retirement Plan. Source/Author: (Employee Benefits Security Administration, U.S. Department of Labor). View Factsheet.

    Investors are messing up their portfolios by failing to invest all of their money in a target-date fund, the study finds. If you buy a pre-approved plan, you may have an adoption agreement.

    Average Expense Ratios Fall for Target Date Funds

    The adoption agreement is a supplement to the basic plan document and lists plan features from which you may choose. The adoption agreement becomes part of your plan. Know what your adoption agreement says about:. All plans require certain administrative tasks.

    What to Read Next

    Know who is going to do these tasks and make sure that person has the information they need to:. For you and your family.

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    Individuals abroad and more. EINs and other information. Get Your Tax Record.

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    Bank Account Direct Pay. Debit or Credit Card. Payment Plan Installment Agreement. Standard mileage and other information.

    Roadmap to retirement

    Using a target-date fund in conjunction with other investments changes your asset allocation and means you're likely to take on too much or too little risk to meet your retirement savings goals. How your pension benefits your family The benefits to your family differ according to which type of pension you have, such as: Because it lasts for the life of both the worker and the spouse, a joint-and-survivor annuity typically results in a lower monthly benefit payment than a single-life annuity. South Africans are notoriously bad savers, especially when it comes to saving for retirement. These tips will help you stay on course.

    Instructions for Form Request for Transcript of Tax Return. Employee's Withholding Allowance Certificate.