Hennepin Minnesota Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Hennepin
• 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 Hennepin Minnesota Supplemental Retirement Plan is a retirement savings program offered to employees working for Hennepin County, Minnesota. This plan serves as an additional retirement benefit over and above any other retirement plans the employee may have. One of the primary goals of the Hennepin Minnesota Supplemental Retirement Plan is to provide employees with an opportunity to maximize their retirement savings by contributing additional funds towards their future financial security. This plan offers flexibility and various investment options to suit the individual needs and preferences of the employees. The Hennepin Minnesota Supplemental Retirement Plan is designed to complement the existing retirement plans such as the Hennepin County Retirement Plan. It allows employees to contribute additional funds towards their retirement savings, thereby boosting their overall retirement income. Contributions to the Hennepin Minnesota Supplemental Retirement Plan are made through pre-tax payroll deductions, enabling employees to enjoy potential tax advantages. The plan offers a range of investment options, including mutual funds, stocks, bonds, and various other financial instruments, allowing employees to customize their investment portfolio based on their risk tolerance and long-term financial goals. Additionally, the Hennepin Minnesota Supplemental Retirement Plan provides resources and educational materials to help employees make informed investment decisions. Educational seminars, workshops, and online tools are made available to participants to enhance their understanding of retirement planning and investment strategies. While there may not be different types of Hennepin Minnesota Supplemental Retirement Plans, the plan allows employees to choose between different investment options and contribution amounts based on their individual financial circumstances and retirement goals. In summary, the Hennepin Minnesota Supplemental Retirement Plan is a valuable retirement savings program offered to employees of Hennepin County, Minnesota. It provides an opportunity to enhance retirement savings through pre-tax contributions and a wide range of investment options. The plan aims to assist employees in achieving their long-term financial goals and securing a comfortable retirement.

The Hennepin Minnesota Supplemental Retirement Plan is a retirement savings program offered to employees working for Hennepin County, Minnesota. This plan serves as an additional retirement benefit over and above any other retirement plans the employee may have. One of the primary goals of the Hennepin Minnesota Supplemental Retirement Plan is to provide employees with an opportunity to maximize their retirement savings by contributing additional funds towards their future financial security. This plan offers flexibility and various investment options to suit the individual needs and preferences of the employees. The Hennepin Minnesota Supplemental Retirement Plan is designed to complement the existing retirement plans such as the Hennepin County Retirement Plan. It allows employees to contribute additional funds towards their retirement savings, thereby boosting their overall retirement income. Contributions to the Hennepin Minnesota Supplemental Retirement Plan are made through pre-tax payroll deductions, enabling employees to enjoy potential tax advantages. The plan offers a range of investment options, including mutual funds, stocks, bonds, and various other financial instruments, allowing employees to customize their investment portfolio based on their risk tolerance and long-term financial goals. Additionally, the Hennepin Minnesota Supplemental Retirement Plan provides resources and educational materials to help employees make informed investment decisions. Educational seminars, workshops, and online tools are made available to participants to enhance their understanding of retirement planning and investment strategies. While there may not be different types of Hennepin Minnesota Supplemental Retirement Plans, the plan allows employees to choose between different investment options and contribution amounts based on their individual financial circumstances and retirement goals. In summary, the Hennepin Minnesota Supplemental Retirement Plan is a valuable retirement savings program offered to employees of Hennepin County, Minnesota. It provides an opportunity to enhance retirement savings through pre-tax contributions and a wide range of investment options. The plan aims to assist employees in achieving their long-term financial goals and securing a comfortable retirement.