King Washington Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: King
• 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 King Washington Supplemental Retirement Plan is a comprehensive retirement savings option offered by King Washington, a financial services company. This plan aims to assist individuals in maximizing their retirement savings to ensure a secure and comfortable future. With its various types, the King Washington Supplemental Retirement Plan provides flexibility and tailored options to suit different financial goals and preferences. One type of the King Washington Supplemental Retirement Plan is the "King Washington Traditional Supplemental Retirement Plan." This plan functions like a traditional individual retirement account (IRA) where contributions are made on a pre-tax basis, allowing for potential tax savings. The funds deposited into this plan are invested in a range of diversified assets, such as stocks, bonds, and mutual funds, to help grow the retirement savings over time. Another type is the "King Washington Roth Supplemental Retirement Plan," which operates similarly to a Roth IRA. Contributions to this plan are made with after-tax income, meaning that withdrawals in retirement are tax-free. This plan is particularly advantageous for individuals who anticipate being in a higher tax bracket during retirement or seek tax-free growth potential. King Washington also offers the "King Washington Self-Employed Supplemental Retirement Plan" designed explicitly for self-employed individuals and small business owners. This plan allows for higher contribution limits and additional flexibility in determining contributions based on income fluctuations. The King Washington Supplemental Retirement Plan emphasizes the importance of starting early and making consistent contributions to maximize growth potential. It offers a wide range of investment options, including stocks, bonds, mutual funds, and other investment vehicles, to cater to diverse risk tolerances and investment preferences. Furthermore, the King Washington Supplemental Retirement Plan provides participants with access to a user-friendly online platform where they can monitor their retirement savings, make contribution adjustments, and access educational resources to enhance financial literacy and retirement planning knowledge. Overall, the King Washington Supplemental Retirement Plan is a robust retirement savings option that helps individuals prepare for a financially secure future by providing flexibility, personalized investment strategies, and comprehensive retirement planning tools.

The King Washington Supplemental Retirement Plan is a comprehensive retirement savings option offered by King Washington, a financial services company. This plan aims to assist individuals in maximizing their retirement savings to ensure a secure and comfortable future. With its various types, the King Washington Supplemental Retirement Plan provides flexibility and tailored options to suit different financial goals and preferences. One type of the King Washington Supplemental Retirement Plan is the "King Washington Traditional Supplemental Retirement Plan." This plan functions like a traditional individual retirement account (IRA) where contributions are made on a pre-tax basis, allowing for potential tax savings. The funds deposited into this plan are invested in a range of diversified assets, such as stocks, bonds, and mutual funds, to help grow the retirement savings over time. Another type is the "King Washington Roth Supplemental Retirement Plan," which operates similarly to a Roth IRA. Contributions to this plan are made with after-tax income, meaning that withdrawals in retirement are tax-free. This plan is particularly advantageous for individuals who anticipate being in a higher tax bracket during retirement or seek tax-free growth potential. King Washington also offers the "King Washington Self-Employed Supplemental Retirement Plan" designed explicitly for self-employed individuals and small business owners. This plan allows for higher contribution limits and additional flexibility in determining contributions based on income fluctuations. The King Washington Supplemental Retirement Plan emphasizes the importance of starting early and making consistent contributions to maximize growth potential. It offers a wide range of investment options, including stocks, bonds, mutual funds, and other investment vehicles, to cater to diverse risk tolerances and investment preferences. Furthermore, the King Washington Supplemental Retirement Plan provides participants with access to a user-friendly online platform where they can monitor their retirement savings, make contribution adjustments, and access educational resources to enhance financial literacy and retirement planning knowledge. Overall, the King Washington Supplemental Retirement Plan is a robust retirement savings option that helps individuals prepare for a financially secure future by providing flexibility, personalized investment strategies, and comprehensive retirement planning tools.