Orange California Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Orange
• 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 Orange California Supplemental Retirement Plan is a comprehensive retirement program designed to provide additional financial security and stability for individuals residing in Orange, California. This retirement plan offers various benefits and investment options to ensure retirees can maintain a comfortable lifestyle throughout their golden years. The Orange California Supplemental Retirement Plan offers participants the opportunity to contribute additional funds to their retirement savings on top of their regular retirement plan contributions. This additional contribution helps individuals build a larger retirement nest egg, ensuring they have enough funds to cover their expenses and enjoy their retirement to the fullest. One of the key features of the Orange California Supplemental Retirement Plan is the ability to choose from a range of investment options. Participants can invest their supplemental retirement contributions in various investment vehicles, including stocks, bonds, mutual funds, and more. This allows individuals to tailor their investment strategy based on their risk tolerance and retirement goals. Additionally, the Orange California Supplemental Retirement Plan provides tax advantages for participants. Contributions made to the plan are often tax-deductible, reducing the individual's taxable income for the year. This tax advantage allows participants to maximize their retirement savings while potentially lowering their overall tax burden. The Orange California Supplemental Retirement Plan also offers flexibility in terms of distribution options. Retirees can choose to receive their supplemental retirement funds as a lump sum, regular monthly payments, or a combination of both. This flexibility ensures retirees can customize their retirement income to meet their specific financial needs and preferences. Furthermore, the Orange California Supplemental Retirement Plan may have different types of plans to cater to the diversity of participants. These plans may include a traditional 401(k) plan, a Roth 401(k) plan, or a simplified employee pension (SEP) plan. Each plan type offers distinct features and benefits, allowing individuals to select the one that aligns best with their financial situation and retirement objectives. In conclusion, the Orange California Supplemental Retirement Plan is a comprehensive retirement program that allows individuals in Orange, California, to enhance their retirement savings and secure a comfortable future. By offering a range of investment options, tax advantages, and flexible distribution options, this retirement plan ensures individuals can successfully plan and achieve their retirement goals.

The Orange California Supplemental Retirement Plan is a comprehensive retirement program designed to provide additional financial security and stability for individuals residing in Orange, California. This retirement plan offers various benefits and investment options to ensure retirees can maintain a comfortable lifestyle throughout their golden years. The Orange California Supplemental Retirement Plan offers participants the opportunity to contribute additional funds to their retirement savings on top of their regular retirement plan contributions. This additional contribution helps individuals build a larger retirement nest egg, ensuring they have enough funds to cover their expenses and enjoy their retirement to the fullest. One of the key features of the Orange California Supplemental Retirement Plan is the ability to choose from a range of investment options. Participants can invest their supplemental retirement contributions in various investment vehicles, including stocks, bonds, mutual funds, and more. This allows individuals to tailor their investment strategy based on their risk tolerance and retirement goals. Additionally, the Orange California Supplemental Retirement Plan provides tax advantages for participants. Contributions made to the plan are often tax-deductible, reducing the individual's taxable income for the year. This tax advantage allows participants to maximize their retirement savings while potentially lowering their overall tax burden. The Orange California Supplemental Retirement Plan also offers flexibility in terms of distribution options. Retirees can choose to receive their supplemental retirement funds as a lump sum, regular monthly payments, or a combination of both. This flexibility ensures retirees can customize their retirement income to meet their specific financial needs and preferences. Furthermore, the Orange California Supplemental Retirement Plan may have different types of plans to cater to the diversity of participants. These plans may include a traditional 401(k) plan, a Roth 401(k) plan, or a simplified employee pension (SEP) plan. Each plan type offers distinct features and benefits, allowing individuals to select the one that aligns best with their financial situation and retirement objectives. In conclusion, the Orange California Supplemental Retirement Plan is a comprehensive retirement program that allows individuals in Orange, California, to enhance their retirement savings and secure a comfortable future. By offering a range of investment options, tax advantages, and flexible distribution options, this retirement plan ensures individuals can successfully plan and achieve their retirement goals.