Bexar Texas Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Bexar
• 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 Bexar Texas Supplemental Retirement Plan is a comprehensive retirement savings program offered to eligible employees in Bexar County, Texas. This voluntary supplemental retirement plan is designed to supplement the benefits provided by the Texas County and District Retirement System (TC DRS). By participating in this plan, employees have the opportunity to save additional funds for their retirement, ensuring a more secure financial future. The Bexar Texas Supplemental Retirement Plan offers various investment options, allowing participants to choose the investment strategy that aligns with their long-term financial goals and risk tolerance. These investment options include mutual funds, stocks, bonds, and other investment vehicles, carefully selected by professional fund managers to maximize returns while minimizing risk. One of the key features of the Bexar Texas Supplemental Retirement Plan is its flexibility. Employees can contribute a percentage of their salary on a pre-tax basis, which offers potential tax advantages by reducing their taxable income. Additionally, participants can change their contribution rates and investment allocations at any time throughout their employment, allowing them to adapt their savings strategy as their financial circumstances change. In addition to the primary Bexar Texas Supplemental Retirement Plan, there are also different types or options available to employees, depending on their specific needs and preferences. These options may include a traditional pension plan, a 401(k)-style plan, or a hybrid plan that combines features of both. Each option comes with its own unique benefits, rules, and contribution limits, providing employees with flexibility to choose the plan that best suits their individual retirement goals. Employees who participate in the Bexar Texas Supplemental Retirement Plan can enjoy the peace of mind that comes with knowing they are taking proactive steps towards securing their financial future. With a wide range of investment choices, tax advantages, and flexibility, this retirement plan offers employees in Bexar County the opportunity to build a robust retirement nest egg while enjoying the benefits of working in public service.

The Bexar Texas Supplemental Retirement Plan is a comprehensive retirement savings program offered to eligible employees in Bexar County, Texas. This voluntary supplemental retirement plan is designed to supplement the benefits provided by the Texas County and District Retirement System (TC DRS). By participating in this plan, employees have the opportunity to save additional funds for their retirement, ensuring a more secure financial future. The Bexar Texas Supplemental Retirement Plan offers various investment options, allowing participants to choose the investment strategy that aligns with their long-term financial goals and risk tolerance. These investment options include mutual funds, stocks, bonds, and other investment vehicles, carefully selected by professional fund managers to maximize returns while minimizing risk. One of the key features of the Bexar Texas Supplemental Retirement Plan is its flexibility. Employees can contribute a percentage of their salary on a pre-tax basis, which offers potential tax advantages by reducing their taxable income. Additionally, participants can change their contribution rates and investment allocations at any time throughout their employment, allowing them to adapt their savings strategy as their financial circumstances change. In addition to the primary Bexar Texas Supplemental Retirement Plan, there are also different types or options available to employees, depending on their specific needs and preferences. These options may include a traditional pension plan, a 401(k)-style plan, or a hybrid plan that combines features of both. Each option comes with its own unique benefits, rules, and contribution limits, providing employees with flexibility to choose the plan that best suits their individual retirement goals. Employees who participate in the Bexar Texas Supplemental Retirement Plan can enjoy the peace of mind that comes with knowing they are taking proactive steps towards securing their financial future. With a wide range of investment choices, tax advantages, and flexibility, this retirement plan offers employees in Bexar County the opportunity to build a robust retirement nest egg while enjoying the benefits of working in public service.