Clark Nevada Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Clark
• Control #: US-CC-22-118E
• Format: Word; Rich Text

Description

22-118E 22-118E . . . Employee Savings Thrift Plan under which three types of contributions can be made: (a) those permitted under a qualified Cash Or Deferred Arrangement ("CODA") under Section 401(k) of Internal Revenue Code, (b) those made by participating companies matching 40% of CODA contributions, and (c) additional voluntary employee contributions made by participants who elect maximum CODA contribution and wish to save additional amounts out of after-tax dollars Clark Nevada Employees Savings Thrift Plan is a retirement savings plan offered to employees of Clark Nevada County, specifically designed to assist them in building a secure financial future after retirement. This comprehensive plan provides employees with an opportunity to save and invest a portion of their income on a pre-tax basis, allowing them to maximize their retirement savings. The Clark Nevada Employees Savings Thrift Plan offers various investment options, enabling participants to choose from a selection of diverse investment funds that suit their risk tolerance and investment goals. These investment options encompass a broad range of asset classes, including stocks, bonds, and money market funds, providing participants with flexibility and the potential for growth over time. Within the Clark Nevada Employees Savings Thrift Plan, there are different types of contribution options available. The first type is the traditional pre-tax contribution, where employees can contribute a portion of their salary into the plan before taxes are deducted. This reduces their current taxable income while allowing their contributions to grow tax-deferred until retirement. The second type is the Roth after-tax contribution, which enables participants to contribute a portion of their income into the plan after taxes have been deducted. While contributions made through this option do not provide immediate tax benefits, they allow for potential tax-free withdrawals in retirement. Additionally, Clark Nevada Employees Savings Thrift Plan offers an employer match program, where the employer matches a percentage of employee contributions up to a certain limit. This matching contribution serves as an additional benefit, incentivizing employees to save and boosting their retirement savings. To manage and access their accounts, participants have access to an online portal that provides detailed information about their contributions, investment performance, and account balance. This user-friendly platform allows employees to make changes to their contributions, adjust investment allocations, and monitor their retirement savings progress. Overall, Clark Nevada Employees Savings Thrift Plan is a robust retirement savings program offered to employees of Clark Nevada County, providing them with comprehensive investment options, contribution choices, and an employer match program. This plan empowers employees to take control of their financial future, effectively saving for retirement and ensuring a secure and comfortable lifestyle during their post-employment years.

Clark Nevada Employees Savings Thrift Plan is a retirement savings plan offered to employees of Clark Nevada County, specifically designed to assist them in building a secure financial future after retirement. This comprehensive plan provides employees with an opportunity to save and invest a portion of their income on a pre-tax basis, allowing them to maximize their retirement savings. The Clark Nevada Employees Savings Thrift Plan offers various investment options, enabling participants to choose from a selection of diverse investment funds that suit their risk tolerance and investment goals. These investment options encompass a broad range of asset classes, including stocks, bonds, and money market funds, providing participants with flexibility and the potential for growth over time. Within the Clark Nevada Employees Savings Thrift Plan, there are different types of contribution options available. The first type is the traditional pre-tax contribution, where employees can contribute a portion of their salary into the plan before taxes are deducted. This reduces their current taxable income while allowing their contributions to grow tax-deferred until retirement. The second type is the Roth after-tax contribution, which enables participants to contribute a portion of their income into the plan after taxes have been deducted. While contributions made through this option do not provide immediate tax benefits, they allow for potential tax-free withdrawals in retirement. Additionally, Clark Nevada Employees Savings Thrift Plan offers an employer match program, where the employer matches a percentage of employee contributions up to a certain limit. This matching contribution serves as an additional benefit, incentivizing employees to save and boosting their retirement savings. To manage and access their accounts, participants have access to an online portal that provides detailed information about their contributions, investment performance, and account balance. This user-friendly platform allows employees to make changes to their contributions, adjust investment allocations, and monitor their retirement savings progress. Overall, Clark Nevada Employees Savings Thrift Plan is a robust retirement savings program offered to employees of Clark Nevada County, providing them with comprehensive investment options, contribution choices, and an employer match program. This plan empowers employees to take control of their financial future, effectively saving for retirement and ensuring a secure and comfortable lifestyle during their post-employment years.