Allegheny Pennsylvania Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Allegheny
• Control #: US-CC-22-118E
• Format: Word; Rich Text

Description

22-118E 22-118E . . . Employee Savings Thrift Plan under which three types of contributions can be made: (a) those permitted under a qualified Cash Or Deferred Arrangement ("CODA") under Section 401(k) of Internal Revenue Code, (b) those made by participating companies matching 40% of CODA contributions, and (c) additional voluntary employee contributions made by participants who elect maximum CODA contribution and wish to save additional amounts out of after-tax dollars The Allegheny Pennsylvania Employees Savings Thrift Plan is a retirement savings program specifically designed for employees of Allegheny Pennsylvania. As an employer-sponsored plan, it offers numerous benefits and investment options to help employees build a secure financial future. The plan offers a range of features to assist employees in saving for retirement. One of the key benefits is the ability to contribute a portion of their pre-tax income into their retirement account. This allows employees to lower their taxable income and potentially grow their savings faster. Additionally, the plan may also provide an employer match or contribution, further boosting employees' retirement savings. Employees participating in the Allegheny Pennsylvania Employees Savings Thrift Plan have access to various investment options. These options include a selection of mutual funds, stocks, bonds, and other investment vehicles. Participants can tailor their investment strategy to suit their risk tolerance and retirement goals. Moreover, the plan offers tools and resources to help employees make informed investment decisions, such as educational materials and retirement planning advisors. The Allegheny Pennsylvania Employees Savings Thrift Plan also provides flexibility in terms of contributions and withdrawals. Employees may choose how much they want to contribute from their paycheck, as long as it complies with the plan's contribution limits. Furthermore, participants may have the option to take loans or make hardship withdrawals under specific circumstances, providing an extra level of financial flexibility. It's important to note that Allegheny Pennsylvania Employees Savings Thrift Plan may have different variations or sub-plans catering to specific employee groups. For instance, there might be separate plans for different departments or unions within Allegheny Pennsylvania. These specialized plans may offer additional features or investment options tailored to the unique needs of that specific employee group. In summary, the Allegheny Pennsylvania Employees Savings Thrift Plan is a comprehensive retirement savings program offered to employees of Allegheny Pennsylvania. With its diverse investment options, contribution flexibility, and employer match potential, the plan aims to empower employees in building a financially secure retirement.

The Allegheny Pennsylvania Employees Savings Thrift Plan is a retirement savings program specifically designed for employees of Allegheny Pennsylvania. As an employer-sponsored plan, it offers numerous benefits and investment options to help employees build a secure financial future. The plan offers a range of features to assist employees in saving for retirement. One of the key benefits is the ability to contribute a portion of their pre-tax income into their retirement account. This allows employees to lower their taxable income and potentially grow their savings faster. Additionally, the plan may also provide an employer match or contribution, further boosting employees' retirement savings. Employees participating in the Allegheny Pennsylvania Employees Savings Thrift Plan have access to various investment options. These options include a selection of mutual funds, stocks, bonds, and other investment vehicles. Participants can tailor their investment strategy to suit their risk tolerance and retirement goals. Moreover, the plan offers tools and resources to help employees make informed investment decisions, such as educational materials and retirement planning advisors. The Allegheny Pennsylvania Employees Savings Thrift Plan also provides flexibility in terms of contributions and withdrawals. Employees may choose how much they want to contribute from their paycheck, as long as it complies with the plan's contribution limits. Furthermore, participants may have the option to take loans or make hardship withdrawals under specific circumstances, providing an extra level of financial flexibility. It's important to note that Allegheny Pennsylvania Employees Savings Thrift Plan may have different variations or sub-plans catering to specific employee groups. For instance, there might be separate plans for different departments or unions within Allegheny Pennsylvania. These specialized plans may offer additional features or investment options tailored to the unique needs of that specific employee group. In summary, the Allegheny Pennsylvania Employees Savings Thrift Plan is a comprehensive retirement savings program offered to employees of Allegheny Pennsylvania. With its diverse investment options, contribution flexibility, and employer match potential, the plan aims to empower employees in building a financially secure retirement.