Franklin Ohio Deferred Compensation Investment Account Plan

• Category: Corporations - Public - Incentive Compensation Plans
• State: Multi-State
• County: Franklin
• Control #: US-CC-20-146
• Format: Word; Rich Text

Description

20-146 20-146 . . . Deferred Compensation Investment Account Plan under which Board of Directors of Savings and Loan Association allocates a portion of annual bonuses which would otherwise be paid to selected officers and employees to a separate account. The deferred compensation in such account is deemed, for purposes of Plan only, to represent specified percentages of Association's investments in certain portfolios of equity securities, and it is increased or decreased to same extent as performance of such securities The Franklin Ohio Deferred Compensation Investment Account Plan is a retirement savings option available to state and local government employees in Franklin, Ohio. This plan is designed to help participants save and invest money for their future by providing a tax-advantaged and convenient investment vehicle. One of the main benefits of the Franklin Ohio Deferred Compensation Investment Account Plan is the ability to save for retirement on a pre-tax basis, meaning contributions are made before taxes are deducted from the participants' paychecks. This allows employees to potentially lower their taxable income and maximize their retirement savings. Participants have the flexibility to contribute a percentage of their salary or a fixed dollar amount to their Franklin Ohio Deferred Compensation Investment Account Plan. These contributions are invested in a range of investment options, such as mutual funds, target-date funds, and index funds, which are managed by reputable investment companies. The investment options available in the Franklin Ohio Deferred Compensation Investment Account Plan are carefully selected to suit various risk tolerances and investment goals. Participants can choose from conservative investment options with lower risk and potentially lower returns, or more aggressive options with higher risk and potentially higher returns. This diversity allows individuals to tailor their investment strategy to their specific needs and preferences. Another noteworthy feature of the Franklin Ohio Deferred Compensation Investment Account Plan is the ability to change investment options, transfer funds, or adjust contribution amounts. This flexibility allows participants to adapt their investment strategy as they approach retirement or if personal circumstances change. Furthermore, participants in the Franklin Ohio Deferred Compensation Investment Account Plan have access to educational resources and investment guidance. These resources provide valuable information about retirement planning, investment strategies, and managing risk. Participants can also receive personalized advice from financial professionals to help them make informed decisions about their retirement savings. It is worth noting that while the Franklin Ohio Deferred Compensation Investment Account Plan is a comprehensive retirement savings plan, there may be other retirement account options available to government employees in Franklin, Ohio, such as a 401(k) or pension plan. These additional plans may have different rules, contribution limits, or investment options, offering employees a more diverse set of retirement savings tools. In summary, the Franklin Ohio Deferred Compensation Investment Account Plan is a tax-advantaged retirement savings option available to government employees in Franklin, Ohio. This plan offers a range of investment options, flexibility in contributions and investment strategy, educational resources, and personalized support to help participants achieve their retirement goals.

The Franklin Ohio Deferred Compensation Investment Account Plan is a retirement savings option available to state and local government employees in Franklin, Ohio. This plan is designed to help participants save and invest money for their future by providing a tax-advantaged and convenient investment vehicle. One of the main benefits of the Franklin Ohio Deferred Compensation Investment Account Plan is the ability to save for retirement on a pre-tax basis, meaning contributions are made before taxes are deducted from the participants' paychecks. This allows employees to potentially lower their taxable income and maximize their retirement savings. Participants have the flexibility to contribute a percentage of their salary or a fixed dollar amount to their Franklin Ohio Deferred Compensation Investment Account Plan. These contributions are invested in a range of investment options, such as mutual funds, target-date funds, and index funds, which are managed by reputable investment companies. The investment options available in the Franklin Ohio Deferred Compensation Investment Account Plan are carefully selected to suit various risk tolerances and investment goals. Participants can choose from conservative investment options with lower risk and potentially lower returns, or more aggressive options with higher risk and potentially higher returns. This diversity allows individuals to tailor their investment strategy to their specific needs and preferences. Another noteworthy feature of the Franklin Ohio Deferred Compensation Investment Account Plan is the ability to change investment options, transfer funds, or adjust contribution amounts. This flexibility allows participants to adapt their investment strategy as they approach retirement or if personal circumstances change. Furthermore, participants in the Franklin Ohio Deferred Compensation Investment Account Plan have access to educational resources and investment guidance. These resources provide valuable information about retirement planning, investment strategies, and managing risk. Participants can also receive personalized advice from financial professionals to help them make informed decisions about their retirement savings. It is worth noting that while the Franklin Ohio Deferred Compensation Investment Account Plan is a comprehensive retirement savings plan, there may be other retirement account options available to government employees in Franklin, Ohio, such as a 401(k) or pension plan. These additional plans may have different rules, contribution limits, or investment options, offering employees a more diverse set of retirement savings tools. In summary, the Franklin Ohio Deferred Compensation Investment Account Plan is a tax-advantaged retirement savings option available to government employees in Franklin, Ohio. This plan offers a range of investment options, flexibility in contributions and investment strategy, educational resources, and personalized support to help participants achieve their retirement goals.