Fulton Georgia Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Fulton
• 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 Fulton Georgia Supplemental Retirement Plan is a comprehensive retirement savings program specifically designed for employees of Fulton County, Georgia. This plan offers added financial security to employees who wish to enhance their retirement savings beyond what is provided by the county's primary retirement plan. Keywords: Fulton Georgia Supplemental Retirement Plan, retirement savings, Fulton County, financial security, retirement plan. There are two distinct types of Fulton Georgia Supplemental Retirement Plans available to employees: 1. 401(k) Plan: The Fulton Georgia 401(k) Supplemental Retirement Plan is a defined contribution retirement savings plan, allowing employees to contribute a portion of their pre-tax salary towards their retirement fund. Employees have the flexibility to choose from a variety of investment options to grow their savings effectively. Contributions made by employees are tax-deferred until withdrawn, and many employees opt for automatic contributions for ease and convenience. Keywords: Fulton Georgia 401(k) Supplemental Retirement Plan, defined contribution, pre-tax salary, investment options, tax-deferred, automatic contributions. 2. Deferred Compensation Plan: The Fulton Georgia Deferred Compensation Plan is another option offered to employees looking to supplement their retirement savings. This plan allows employees to defer a portion of their salary into an account that grows on a tax-deferred basis until retirement. Contributions are made before taxes are deducted, reducing an employee's current taxable income. Moreover, employees can select from various investment options to suit their retirement goals. Keywords: Fulton Georgia Deferred Compensation Plan, retirement savings, salary deferral, tax-deferred, investment options, taxable income reduction. Both the 401(k) Plan and Deferred Compensation Plan options provide employees with the opportunity to secure their financial future and build a substantial retirement nest egg. By leveraging these supplemental retirement plans, Fulton County employees can take control of their retirement savings, maximize tax benefits, and achieve their long-term financial goals. Keywords: retirement savings, financial future, retirement nest egg, supplemental retirement plans, Fulton County employees, tax benefits, financial goals.

The Fulton Georgia Supplemental Retirement Plan is a comprehensive retirement savings program specifically designed for employees of Fulton County, Georgia. This plan offers added financial security to employees who wish to enhance their retirement savings beyond what is provided by the county's primary retirement plan. Keywords: Fulton Georgia Supplemental Retirement Plan, retirement savings, Fulton County, financial security, retirement plan. There are two distinct types of Fulton Georgia Supplemental Retirement Plans available to employees: 1. 401(k) Plan: The Fulton Georgia 401(k) Supplemental Retirement Plan is a defined contribution retirement savings plan, allowing employees to contribute a portion of their pre-tax salary towards their retirement fund. Employees have the flexibility to choose from a variety of investment options to grow their savings effectively. Contributions made by employees are tax-deferred until withdrawn, and many employees opt for automatic contributions for ease and convenience. Keywords: Fulton Georgia 401(k) Supplemental Retirement Plan, defined contribution, pre-tax salary, investment options, tax-deferred, automatic contributions. 2. Deferred Compensation Plan: The Fulton Georgia Deferred Compensation Plan is another option offered to employees looking to supplement their retirement savings. This plan allows employees to defer a portion of their salary into an account that grows on a tax-deferred basis until retirement. Contributions are made before taxes are deducted, reducing an employee's current taxable income. Moreover, employees can select from various investment options to suit their retirement goals. Keywords: Fulton Georgia Deferred Compensation Plan, retirement savings, salary deferral, tax-deferred, investment options, taxable income reduction. Both the 401(k) Plan and Deferred Compensation Plan options provide employees with the opportunity to secure their financial future and build a substantial retirement nest egg. By leveraging these supplemental retirement plans, Fulton County employees can take control of their retirement savings, maximize tax benefits, and achieve their long-term financial goals. Keywords: retirement savings, financial future, retirement nest egg, supplemental retirement plans, Fulton County employees, tax benefits, financial goals.