Fulton Georgia Retirement Benefits Plan

• Category: Corporations - Public - Retirement
• State: Multi-State
• County: Fulton
• Control #: US-CC-21-166
• Format: Word; Rich Text

Description

21-166 21-166 . . . Retirement Benefits Plan under which trustees and officers with 15 or more years of service receive annual retirement benefit based on percentage of average annual compensation for 36 months of service immediately preceding retirement. The amount of annual benefit ranges from 25% of such average annual compensation for 15 years of service to 75% for 25 or more years of service The Fulton Georgia Retirement Benefits Plan is a comprehensive retirement program offered to employees working in Fulton, Georgia. This retirement plan is designed to provide financial security and stability to employees after they retire. The Fulton Georgia Retirement Benefits Plan is available to all eligible employees who have successfully completed a certain number of years of service in Fulton, Georgia. This retirement program ensures that employees are able to build a nest egg that will support them financially during their retirement years. The retirement plan offers various benefits and options to cater to the specific needs of employees. These benefits include: 1. Pension Plan: The Fulton Georgia Retirement Benefits Plan offers a defined benefit pension plan. This type of plan provides eligible employees with a guaranteed income during retirement based on their years of service and salary history. 2. 401(k) Plan: Employees can also contribute to a 401(k) plan, which allows them to save for retirement through pre-tax deductions from their salary. This plan offers an opportunity for employees to accumulate savings over time, with the added advantage of potential employer matching contributions. 3. Roth IRA: The retirement benefits plan includes a Roth IRA option, enabling employees to make after-tax contributions toward their retirement savings. Withdrawals in retirement from the Roth IRA are generally tax-free, offering potential tax advantages to employees. 4. Deferred Compensation: The plan may also offer employees a deferred compensation option, allowing them to defer a portion of their salary into a retirement account. This enables employees to save additional funds for retirement on a tax-deferred basis. 5. Health Benefits: Depending on the specific retirement benefits package chosen, employees may be eligible for continued access to certain health benefits. This aspect aids in maintaining healthcare coverage during retirement, providing a sense of security and peace of mind. The Fulton Georgia Retirement Benefits Plan is a valuable resource for employees, empowering them to plan and prepare for their retirement years effectively. It offers employees a range of retirement options, ensuring flexibility and the opportunity to choose a retirement package that aligns with their personal goals and financial aspirations. By offering these retirement benefits, Fulton, Georgia demonstrates its commitment to the well-being and financial security of its employees, fostering a positive work environment and promoting long-term employee satisfaction and retention.

The Fulton Georgia Retirement Benefits Plan is a comprehensive retirement program offered to employees working in Fulton, Georgia. This retirement plan is designed to provide financial security and stability to employees after they retire. The Fulton Georgia Retirement Benefits Plan is available to all eligible employees who have successfully completed a certain number of years of service in Fulton, Georgia. This retirement program ensures that employees are able to build a nest egg that will support them financially during their retirement years. The retirement plan offers various benefits and options to cater to the specific needs of employees. These benefits include: 1. Pension Plan: The Fulton Georgia Retirement Benefits Plan offers a defined benefit pension plan. This type of plan provides eligible employees with a guaranteed income during retirement based on their years of service and salary history. 2. 401(k) Plan: Employees can also contribute to a 401(k) plan, which allows them to save for retirement through pre-tax deductions from their salary. This plan offers an opportunity for employees to accumulate savings over time, with the added advantage of potential employer matching contributions. 3. Roth IRA: The retirement benefits plan includes a Roth IRA option, enabling employees to make after-tax contributions toward their retirement savings. Withdrawals in retirement from the Roth IRA are generally tax-free, offering potential tax advantages to employees. 4. Deferred Compensation: The plan may also offer employees a deferred compensation option, allowing them to defer a portion of their salary into a retirement account. This enables employees to save additional funds for retirement on a tax-deferred basis. 5. Health Benefits: Depending on the specific retirement benefits package chosen, employees may be eligible for continued access to certain health benefits. This aspect aids in maintaining healthcare coverage during retirement, providing a sense of security and peace of mind. The Fulton Georgia Retirement Benefits Plan is a valuable resource for employees, empowering them to plan and prepare for their retirement years effectively. It offers employees a range of retirement options, ensuring flexibility and the opportunity to choose a retirement package that aligns with their personal goals and financial aspirations. By offering these retirement benefits, Fulton, Georgia demonstrates its commitment to the well-being and financial security of its employees, fostering a positive work environment and promoting long-term employee satisfaction and retention.