New Hampshire Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• 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 The New Hampshire Employees Savings Thrift Plan is a retirement savings plan specifically designed for employees of the state of New Hampshire. This plan allows employees to save money for their retirement by contributing a portion of their salary on a pre-tax basis. The New Hampshire Employees Savings Thrift Plan offers various investment options to suit individual preferences and risk tolerances. Participants can choose from a range of investment funds, including stock funds, bond funds, and target-date funds. These investment options are managed by reputable investment firms to ensure the best returns for the participants. One of the key advantages of the New Hampshire Employees Savings Thrift Plan is the employer match. The state of New Hampshire provides a matching contribution for employees' savings, encouraging them to save even more for their retirement. This employer match is essentially free money that helps grow participants' retirement savings faster. Additionally, the New Hampshire Employees Savings Thrift Plan offers flexibility in terms of contributions. Participants can adjust their contribution amount at any time, allowing them to increase or decrease their savings based on their financial circumstances. This flexibility ensures that employees can align their savings with their current financial goals. Along with the main New Hampshire Employees Savings Thrift Plan, there are a few different types available to participants. These include the Roth 401(k) option, which allows employees to make after-tax contributions and enjoy tax-free withdrawals in retirement. Another option is the traditional 401(k), where contributions are made on a pre-tax basis, reducing the current taxable income. The New Hampshire Employees Savings Thrift Plan provides participants with access to educational resources and tools to help them make informed investment decisions and plan for their retirement. Regular communication, investment workshops, and personalized assistance are available to guide participants through the process. In conclusion, the New Hampshire Employees Savings Thrift Plan is a comprehensive retirement savings plan aimed at employees of the state of New Hampshire. With various investment options, employer match, and flexibility in contributions, participants can take control of their retirement savings and secure their financial future. The different types of plans, such as the Roth 401(k) and traditional 401(k), further enhance the options available to participants.

The New Hampshire Employees Savings Thrift Plan is a retirement savings plan specifically designed for employees of the state of New Hampshire. This plan allows employees to save money for their retirement by contributing a portion of their salary on a pre-tax basis. The New Hampshire Employees Savings Thrift Plan offers various investment options to suit individual preferences and risk tolerances. Participants can choose from a range of investment funds, including stock funds, bond funds, and target-date funds. These investment options are managed by reputable investment firms to ensure the best returns for the participants. One of the key advantages of the New Hampshire Employees Savings Thrift Plan is the employer match. The state of New Hampshire provides a matching contribution for employees' savings, encouraging them to save even more for their retirement. This employer match is essentially free money that helps grow participants' retirement savings faster. Additionally, the New Hampshire Employees Savings Thrift Plan offers flexibility in terms of contributions. Participants can adjust their contribution amount at any time, allowing them to increase or decrease their savings based on their financial circumstances. This flexibility ensures that employees can align their savings with their current financial goals. Along with the main New Hampshire Employees Savings Thrift Plan, there are a few different types available to participants. These include the Roth 401(k) option, which allows employees to make after-tax contributions and enjoy tax-free withdrawals in retirement. Another option is the traditional 401(k), where contributions are made on a pre-tax basis, reducing the current taxable income. The New Hampshire Employees Savings Thrift Plan provides participants with access to educational resources and tools to help them make informed investment decisions and plan for their retirement. Regular communication, investment workshops, and personalized assistance are available to guide participants through the process. In conclusion, the New Hampshire Employees Savings Thrift Plan is a comprehensive retirement savings plan aimed at employees of the state of New Hampshire. With various investment options, employer match, and flexibility in contributions, participants can take control of their retirement savings and secure their financial future. The different types of plans, such as the Roth 401(k) and traditional 401(k), further enhance the options available to participants.