Phoenix Arizona Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• City: Phoenix
• 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 Phoenix Arizona Employees Savings Thrift Plan is a retirement savings program designed specifically for employees in Phoenix, Arizona. It offers a range of benefits and options to help employees plan for their financial future and ensure a comfortable retirement. One of the key features of the Phoenix Arizona Employees Savings Thrift Plan is its tax advantage. Participants can contribute a portion of their salary to the plan on a pre-tax basis, reducing their taxable income and potentially achieving significant savings on their annual tax bill. This tax deferral allows employees to maximize their retirement contributions while benefiting from potential growth in a tax-advantaged environment. In addition to the tax benefits, the Phoenix Arizona Employees Savings Thrift Plan offers various investment options to suit different risk appetites and retirement goals. Participants can choose from a range of investment funds, including stocks, bonds, and target-date funds, providing the opportunity to customize their investment portfolio based on their individual preferences and risk tolerance. Furthermore, the Phoenix Arizona Employees Savings Thrift Plan provides employer matching contributions, which can enhance employees' retirement savings. Through this program, the employer matches a percentage of the employee's contributions, effectively doubling their savings and boosting their retirement nest egg. Another variant of the Phoenix Arizona Employees Savings Thrift Plan is the Roth option. This option allows employees to make contributions with after-tax dollars, meaning that qualified distributions in retirement are tax-free. This can be a great advantage for individuals who anticipate being in a higher tax bracket during retirement. To help employees maximize their retirement savings, the Phoenix Arizona Employees Savings Thrift Plan also offers educational resources and tools. These resources aid employees in understanding the benefits of the plan, learning about investment options, and creating a personalized retirement strategy. Furthermore, participants can access online portals and platforms to monitor their savings progress, make changes to their investment portfolio, and leverage retirement calculators to estimate their future financial needs. Overall, the Phoenix Arizona Employees Savings Thrift Plan is a comprehensive retirement savings program designed to support employees in Phoenix, Arizona, in planning for a secure and fulfilling retirement. The range of investment options, tax advantages, and employer matching contributions make this plan a valuable asset for employees seeking to build a strong financial foundation for their future.

The Phoenix Arizona Employees Savings Thrift Plan is a retirement savings program designed specifically for employees in Phoenix, Arizona. It offers a range of benefits and options to help employees plan for their financial future and ensure a comfortable retirement. One of the key features of the Phoenix Arizona Employees Savings Thrift Plan is its tax advantage. Participants can contribute a portion of their salary to the plan on a pre-tax basis, reducing their taxable income and potentially achieving significant savings on their annual tax bill. This tax deferral allows employees to maximize their retirement contributions while benefiting from potential growth in a tax-advantaged environment. In addition to the tax benefits, the Phoenix Arizona Employees Savings Thrift Plan offers various investment options to suit different risk appetites and retirement goals. Participants can choose from a range of investment funds, including stocks, bonds, and target-date funds, providing the opportunity to customize their investment portfolio based on their individual preferences and risk tolerance. Furthermore, the Phoenix Arizona Employees Savings Thrift Plan provides employer matching contributions, which can enhance employees' retirement savings. Through this program, the employer matches a percentage of the employee's contributions, effectively doubling their savings and boosting their retirement nest egg. Another variant of the Phoenix Arizona Employees Savings Thrift Plan is the Roth option. This option allows employees to make contributions with after-tax dollars, meaning that qualified distributions in retirement are tax-free. This can be a great advantage for individuals who anticipate being in a higher tax bracket during retirement. To help employees maximize their retirement savings, the Phoenix Arizona Employees Savings Thrift Plan also offers educational resources and tools. These resources aid employees in understanding the benefits of the plan, learning about investment options, and creating a personalized retirement strategy. Furthermore, participants can access online portals and platforms to monitor their savings progress, make changes to their investment portfolio, and leverage retirement calculators to estimate their future financial needs. Overall, the Phoenix Arizona Employees Savings Thrift Plan is a comprehensive retirement savings program designed to support employees in Phoenix, Arizona, in planning for a secure and fulfilling retirement. The range of investment options, tax advantages, and employer matching contributions make this plan a valuable asset for employees seeking to build a strong financial foundation for their future.