Dallas Texas Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Dallas
• 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 Dallas Texas Employees Savings Thrift Plan is a retirement savings plan specifically designed for employees of the city of Dallas, Texas. This plan offers various benefits and options to help employees save for their future and ensure a financially stable retirement. One type of Dallas Texas Employees Savings Thrift Plan is the Defined Contribution (DC) plan. This allows employees to contribute a portion of their salary on a pre-tax basis, which is then invested in various investment options such as stocks, bonds, and mutual funds. The contributions and any potential earnings grow tax-deferred until retirement, providing employees with the potential for significant growth over time. Another type is the Roth 401(k) plan. This option allows employees to contribute after-tax dollars, meaning that withdrawals in retirement are typically tax-free. This can be advantageous for individuals who expect to be in a higher tax bracket during retirement. The Dallas Texas Employees Savings Thrift Plan also offers a range of investment options to suit employees' various risk tolerances and investment preferences. These options typically include diversified portfolios with varying levels of risk and return potential. Participants can choose conservative options with more stable returns or opt for aggressive investments with potentially higher returns but also higher risks. In addition to the contributions made by employees, the Dallas Texas Employees Savings Thrift Plan may also offer employer contributions, providing employees with an extra boost to their retirement savings. This employer match can vary based on different criteria such as years of service or employee contribution rates. Participants of the Dallas Texas Employees Savings Thrift Plan also have the opportunity to take advantage of various resources and educational materials to help them make informed investment decisions. Retirement planning tools, workshops, and online resources are often available, ensuring that employees have the necessary knowledge and assistance to effectively manage their retirement savings. Overall, the Dallas Texas Employees Savings Thrift Plan is a comprehensive retirement savings program tailored specifically for employees of the city of Dallas, Texas. With multiple investment options, employer contributions, and educational resources, this plan aims to provide employees with an effective means to save for a secure and comfortable retirement.

The Dallas Texas Employees Savings Thrift Plan is a retirement savings plan specifically designed for employees of the city of Dallas, Texas. This plan offers various benefits and options to help employees save for their future and ensure a financially stable retirement. One type of Dallas Texas Employees Savings Thrift Plan is the Defined Contribution (DC) plan. This allows employees to contribute a portion of their salary on a pre-tax basis, which is then invested in various investment options such as stocks, bonds, and mutual funds. The contributions and any potential earnings grow tax-deferred until retirement, providing employees with the potential for significant growth over time. Another type is the Roth 401(k) plan. This option allows employees to contribute after-tax dollars, meaning that withdrawals in retirement are typically tax-free. This can be advantageous for individuals who expect to be in a higher tax bracket during retirement. The Dallas Texas Employees Savings Thrift Plan also offers a range of investment options to suit employees' various risk tolerances and investment preferences. These options typically include diversified portfolios with varying levels of risk and return potential. Participants can choose conservative options with more stable returns or opt for aggressive investments with potentially higher returns but also higher risks. In addition to the contributions made by employees, the Dallas Texas Employees Savings Thrift Plan may also offer employer contributions, providing employees with an extra boost to their retirement savings. This employer match can vary based on different criteria such as years of service or employee contribution rates. Participants of the Dallas Texas Employees Savings Thrift Plan also have the opportunity to take advantage of various resources and educational materials to help them make informed investment decisions. Retirement planning tools, workshops, and online resources are often available, ensuring that employees have the necessary knowledge and assistance to effectively manage their retirement savings. Overall, the Dallas Texas Employees Savings Thrift Plan is a comprehensive retirement savings program tailored specifically for employees of the city of Dallas, Texas. With multiple investment options, employer contributions, and educational resources, this plan aims to provide employees with an effective means to save for a secure and comfortable retirement.