Broward Florida Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Broward
• 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 Broward Florida Supplemental Retirement Plan is a comprehensive retirement program designed to provide additional financial security to eligible employees residing in Broward County, Florida. This retirement plan aims to supplement the benefits an employee receives from the Florida Retirement System (FRS), ensuring a more comfortable retirement for individuals who choose to participate. With the Broward Florida Supplemental Retirement Plan, employees have the opportunity to contribute additional funds towards their retirement savings, allowing them to bolster their income during their golden years. Participants can choose from various investment options to suit their financial goals, risk tolerance, and preferred time horizon. This retirement plan offers diverse investment vehicles, such as mutual funds, bonds, stocks, and other financial instruments. These options are carefully selected to ensure a diversified and balanced portfolio, considering the current market conditions and participants' risk preferences. One of the key benefits of the Broward Florida Supplemental Retirement Plan is the ability to receive tax advantages. Contributions made to this plan are tax-deferred, meaning that individuals do not pay income taxes on the funds they contribute until they withdraw the money during retirement. This tax-deferred status can significantly enhance retirement savings by allowing participants to invest more funds into their accounts. Furthermore, the Broward Florida Supplemental Retirement Plan offers different types of accounts to cater to employees' individual needs and retirement objectives. These include traditional Individual Retirement Accounts (IRA), Roth IRAs, and 401(k) plans. Each of these account types has its own set of unique features, tax implications, and contribution limits, providing participants with flexibility and choice based on their financial circumstances. Broward County employees have access to a comprehensive educational program that helps them understand the nuances of retirement planning, investment strategies, and the advantages associated with participating in the Broward Florida Supplemental Retirement Plan. This educational support ensures that employees can make informed decisions and maximize the benefits derived from the plan. In summary, the Broward Florida Supplemental Retirement Plan is an invaluable retirement savings program available to eligible employees of Broward County, Florida. This plan offers a range of investment options, tax advantages, and diverse account types to cater to individuals' unique needs. By actively participating in this program, employees can enhance their retirement savings and pave the way for a financially secure future.

The Broward Florida Supplemental Retirement Plan is a comprehensive retirement program designed to provide additional financial security to eligible employees residing in Broward County, Florida. This retirement plan aims to supplement the benefits an employee receives from the Florida Retirement System (FRS), ensuring a more comfortable retirement for individuals who choose to participate. With the Broward Florida Supplemental Retirement Plan, employees have the opportunity to contribute additional funds towards their retirement savings, allowing them to bolster their income during their golden years. Participants can choose from various investment options to suit their financial goals, risk tolerance, and preferred time horizon. This retirement plan offers diverse investment vehicles, such as mutual funds, bonds, stocks, and other financial instruments. These options are carefully selected to ensure a diversified and balanced portfolio, considering the current market conditions and participants' risk preferences. One of the key benefits of the Broward Florida Supplemental Retirement Plan is the ability to receive tax advantages. Contributions made to this plan are tax-deferred, meaning that individuals do not pay income taxes on the funds they contribute until they withdraw the money during retirement. This tax-deferred status can significantly enhance retirement savings by allowing participants to invest more funds into their accounts. Furthermore, the Broward Florida Supplemental Retirement Plan offers different types of accounts to cater to employees' individual needs and retirement objectives. These include traditional Individual Retirement Accounts (IRA), Roth IRAs, and 401(k) plans. Each of these account types has its own set of unique features, tax implications, and contribution limits, providing participants with flexibility and choice based on their financial circumstances. Broward County employees have access to a comprehensive educational program that helps them understand the nuances of retirement planning, investment strategies, and the advantages associated with participating in the Broward Florida Supplemental Retirement Plan. This educational support ensures that employees can make informed decisions and maximize the benefits derived from the plan. In summary, the Broward Florida Supplemental Retirement Plan is an invaluable retirement savings program available to eligible employees of Broward County, Florida. This plan offers a range of investment options, tax advantages, and diverse account types to cater to individuals' unique needs. By actively participating in this program, employees can enhance their retirement savings and pave the way for a financially secure future.