San Jose California Supplemental Retirement Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• City: San Jose
• 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 San Jose California Supplemental Retirement Plan is a comprehensive retirement program designed to provide additional financial security to eligible employees of the city of San Jose, California. This retirement plan serves as a supplemental benefit on top of the primary retirement plan offered by the city. The San Jose California Supplemental Retirement Plan offers employees a range of options to help them save for their retirement and achieve their financial goals. The program is available to employees who meet certain eligibility criteria, including age and years of service with the city. One of the key benefits of the San Jose California Supplemental Retirement Plan is the ability for employees to contribute a portion of their salary on a pre-tax basis. This allows participants to reduce their taxable income while building their retirement savings. Additionally, the plan offers flexible contribution options, enabling employees to adjust their contributions based on their individual financial circumstances. The San Jose California Supplemental Retirement Plan offers various investment options to suit participants' preferences, including mutual funds, stocks, and bonds. Participants have the freedom to choose how their contributions are invested, providing them with opportunities for potential growth over the long term. In addition to the primary San Jose California Supplemental Retirement Plan, there are a few specific variations tailored to different employee groups. These variations include plans for police officers, firefighters, and other specialized positions within the city. These specialized plans take into consideration the unique characteristics and retirement needs of these specific occupational groups. The San Jose California Supplemental Retirement Plan is administered by a dedicated team of professionals who ensure compliance with applicable laws and regulations. They are responsible for providing employees with relevant information about the plan, offering educational resources, and assisting with any administrative tasks. Overall, the San Jose California Supplemental Retirement Plan provides eligible employees of the city of San Jose with a valuable opportunity to save for retirement and secure their financial future. It offers flexibility, tax advantages, and a variety of investment options, catering to the individual needs and preferences of participants.

The San Jose California Supplemental Retirement Plan is a comprehensive retirement program designed to provide additional financial security to eligible employees of the city of San Jose, California. This retirement plan serves as a supplemental benefit on top of the primary retirement plan offered by the city. The San Jose California Supplemental Retirement Plan offers employees a range of options to help them save for their retirement and achieve their financial goals. The program is available to employees who meet certain eligibility criteria, including age and years of service with the city. One of the key benefits of the San Jose California Supplemental Retirement Plan is the ability for employees to contribute a portion of their salary on a pre-tax basis. This allows participants to reduce their taxable income while building their retirement savings. Additionally, the plan offers flexible contribution options, enabling employees to adjust their contributions based on their individual financial circumstances. The San Jose California Supplemental Retirement Plan offers various investment options to suit participants' preferences, including mutual funds, stocks, and bonds. Participants have the freedom to choose how their contributions are invested, providing them with opportunities for potential growth over the long term. In addition to the primary San Jose California Supplemental Retirement Plan, there are a few specific variations tailored to different employee groups. These variations include plans for police officers, firefighters, and other specialized positions within the city. These specialized plans take into consideration the unique characteristics and retirement needs of these specific occupational groups. The San Jose California Supplemental Retirement Plan is administered by a dedicated team of professionals who ensure compliance with applicable laws and regulations. They are responsible for providing employees with relevant information about the plan, offering educational resources, and assisting with any administrative tasks. Overall, the San Jose California Supplemental Retirement Plan provides eligible employees of the city of San Jose with a valuable opportunity to save for retirement and secure their financial future. It offers flexibility, tax advantages, and a variety of investment options, catering to the individual needs and preferences of participants.