Alameda California Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Alameda
• Control #: US-CC-21-104
• Format: Word; Rich Text

Description

21-104 21-104 . . . Supplemental Executive Retirement Plan which permits eligible management and highly-compensated employees to receive benefits that will compensate them for limitations imposed by Sections 401(a)(17), 401(k), 401(m) and 402(g) of Internal Revenue Code on salary deferrals and matching contributions under 401(k) plan The Alameda California Supplemental Retirement Plan is a retirement savings option available to employees of the city of Alameda, California. This voluntary plan allows participants to contribute additional funds towards their retirement savings, in addition to their regular pension plan. The Alameda California Supplemental Retirement Plan offers employees the opportunity to boost their retirement savings and secure a more financially stable future. Individuals have the flexibility to determine the amount they want to contribute towards this supplemental plan, which is deducted from their salary before taxes are applied. One type of Alameda California Supplemental Retirement Plan is the 457 Deferred Compensation Plan. This plan is available to governmental employees and allows them to invest a portion of their pre-tax earnings into a variety of investment options. The contributions made towards this plan can potentially grow tax-deferred until retirement, providing a solid foundation for retirement income. Another type of Alameda California Supplemental Retirement Plan is the 401(a) Money Purchase Plan. This plan is typically available for employees of public entities and offers a mandatory contribution from both the employee and employer towards the retirement account. The contributions made are invested in various investment options, and the funds accumulate over time, providing a reliable source of retirement income. The Alameda California Supplemental Retirement Plan ensures that employees have the opportunity to save extra towards their retirement goals, beyond their regular pension plan. The plan offers a range of investment options, which participants can tailor to suit their risk tolerance and investment preferences. By taking advantage of these supplemental plans, employees in Alameda can enhance their retirement savings and achieve a more secure financial future.

The Alameda California Supplemental Retirement Plan is a retirement savings option available to employees of the city of Alameda, California. This voluntary plan allows participants to contribute additional funds towards their retirement savings, in addition to their regular pension plan. The Alameda California Supplemental Retirement Plan offers employees the opportunity to boost their retirement savings and secure a more financially stable future. Individuals have the flexibility to determine the amount they want to contribute towards this supplemental plan, which is deducted from their salary before taxes are applied. One type of Alameda California Supplemental Retirement Plan is the 457 Deferred Compensation Plan. This plan is available to governmental employees and allows them to invest a portion of their pre-tax earnings into a variety of investment options. The contributions made towards this plan can potentially grow tax-deferred until retirement, providing a solid foundation for retirement income. Another type of Alameda California Supplemental Retirement Plan is the 401(a) Money Purchase Plan. This plan is typically available for employees of public entities and offers a mandatory contribution from both the employee and employer towards the retirement account. The contributions made are invested in various investment options, and the funds accumulate over time, providing a reliable source of retirement income. The Alameda California Supplemental Retirement Plan ensures that employees have the opportunity to save extra towards their retirement goals, beyond their regular pension plan. The plan offers a range of investment options, which participants can tailor to suit their risk tolerance and investment preferences. By taking advantage of these supplemental plans, employees in Alameda can enhance their retirement savings and achieve a more secure financial future.