Mecklenburg North Carolina Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Mecklenburg
• 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 Mecklenburg North Carolina Employees Savings Thrift Plan is a retirement savings plan available to employees of Mecklenburg County, North Carolina. This plan is designed to help employees save for their future and achieve financial security during retirement. It is a valuable benefit provided by the county to attract and retain talented employees. The Mecklenburg North Carolina Employees Savings Thrift Plan offers various investment options, giving employees the freedom to tailor their retirement savings according to their individual financial goals and risk tolerance. These investment options include diverse portfolios such as stocks, bonds, mutual funds, and target-date funds. As a participant in the Mecklenburg North Carolina Employees Savings Thrift Plan, employees have the opportunity to contribute a portion of their pre-tax income, thereby potentially reducing their taxable income. The plan offers an array of contribution methods, including automatic payroll deductions, which make it convenient for employees to build their retirement nest egg over time. One notable feature of the Mecklenburg North Carolina Employees Savings Thrift Plan is the employer match. The county may provide a certain percentage match on employee contributions, up to a certain limit. This match effectively boosts employees' savings, helping them accelerate their retirement goals. Moreover, the Mecklenburg North Carolina Employees Savings Thrift Plan offers a range of helpful resources and tools to enhance participants' financial literacy and investment knowledge. These resources may include educational seminars, retirement planning workshops, online calculators, and personalized advice from financial professionals. In addition to the primary Mecklenburg North Carolina Employees Savings Thrift Plan, there may be other types of plans available under this program. These may include a Roth 401(k) option, allowing employees to contribute after-tax income, potentially providing tax-free withdrawals during retirement. To summarize, the Mecklenburg North Carolina Employees Savings Thrift Plan is a comprehensive retirement savings program that empowers employees to take control of their future financial well-being. It offers various investment options, employer matching contributions, and valuable educational resources. This plan aims to serve as a crucial pillar for Mecklenburg County employees' retirement planning, ensuring financial security and stability in their golden years.

The Mecklenburg North Carolina Employees Savings Thrift Plan is a retirement savings plan available to employees of Mecklenburg County, North Carolina. This plan is designed to help employees save for their future and achieve financial security during retirement. It is a valuable benefit provided by the county to attract and retain talented employees. The Mecklenburg North Carolina Employees Savings Thrift Plan offers various investment options, giving employees the freedom to tailor their retirement savings according to their individual financial goals and risk tolerance. These investment options include diverse portfolios such as stocks, bonds, mutual funds, and target-date funds. As a participant in the Mecklenburg North Carolina Employees Savings Thrift Plan, employees have the opportunity to contribute a portion of their pre-tax income, thereby potentially reducing their taxable income. The plan offers an array of contribution methods, including automatic payroll deductions, which make it convenient for employees to build their retirement nest egg over time. One notable feature of the Mecklenburg North Carolina Employees Savings Thrift Plan is the employer match. The county may provide a certain percentage match on employee contributions, up to a certain limit. This match effectively boosts employees' savings, helping them accelerate their retirement goals. Moreover, the Mecklenburg North Carolina Employees Savings Thrift Plan offers a range of helpful resources and tools to enhance participants' financial literacy and investment knowledge. These resources may include educational seminars, retirement planning workshops, online calculators, and personalized advice from financial professionals. In addition to the primary Mecklenburg North Carolina Employees Savings Thrift Plan, there may be other types of plans available under this program. These may include a Roth 401(k) option, allowing employees to contribute after-tax income, potentially providing tax-free withdrawals during retirement. To summarize, the Mecklenburg North Carolina Employees Savings Thrift Plan is a comprehensive retirement savings program that empowers employees to take control of their future financial well-being. It offers various investment options, employer matching contributions, and valuable educational resources. This plan aims to serve as a crucial pillar for Mecklenburg County employees' retirement planning, ensuring financial security and stability in their golden years.