Travis Texas Employees Savings Thrift Plan

• Category: Corporations - Public - Employees
• State: Multi-State
• County: Travis
• 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 Travis Texas Employees Savings Thrift Plan is a retirement savings plan designed to help employees of the Travis County, Texas government save for their future. This plan is an essential benefit provided by the county to its employees, aimed at helping them achieve financial security during their retirement years. The Travis Texas Employees Savings Thrift Plan enables participants to contribute a portion of their salary on a pre-tax basis, allowing for tax-deferred growth until retirement. These contributions can be invested in a range of investment options, including stocks, bonds, and mutual funds, empowering participants to customize their investment portfolios based on their risk tolerance and long-term financial goals. One key feature of the Travis Texas Employees Savings Thrift Plan is the employer match. The county contributes a certain percentage of the employees' contributions, effectively augmenting their retirement savings. This match serves as an incentive for employees to actively participate in the plan, as it provides an opportunity to amplify their savings over time. Furthermore, the Travis Texas Employees Savings Thrift Plan offers a range of educational resources and tools to help participants make informed investment decisions. These resources include seminars, workshops, and online educational materials that cover various retirement savings topics, such as asset allocation, diversification, and financial planning. In addition to the standard Travis Texas Employees Savings Thrift Plan, there may be variations of the plan available to specific employee groups or departments within the Travis County government. Although the specific names of these variations may vary, they typically share the same core features and objectives of the main plan. Overall, the Travis Texas Employees Savings Thrift Plan provides Travis County employees with a powerful tool to build a solid financial foundation for their retirement. By making consistent contributions and taking advantage of the employer match, participants can maximize their retirement savings potential and work towards a financially secure future.

Travis Texas Employees Savings Thrift Plan is a retirement savings plan designed to help employees of the Travis County, Texas government save for their future. This plan is an essential benefit provided by the county to its employees, aimed at helping them achieve financial security during their retirement years. The Travis Texas Employees Savings Thrift Plan enables participants to contribute a portion of their salary on a pre-tax basis, allowing for tax-deferred growth until retirement. These contributions can be invested in a range of investment options, including stocks, bonds, and mutual funds, empowering participants to customize their investment portfolios based on their risk tolerance and long-term financial goals. One key feature of the Travis Texas Employees Savings Thrift Plan is the employer match. The county contributes a certain percentage of the employees' contributions, effectively augmenting their retirement savings. This match serves as an incentive for employees to actively participate in the plan, as it provides an opportunity to amplify their savings over time. Furthermore, the Travis Texas Employees Savings Thrift Plan offers a range of educational resources and tools to help participants make informed investment decisions. These resources include seminars, workshops, and online educational materials that cover various retirement savings topics, such as asset allocation, diversification, and financial planning. In addition to the standard Travis Texas Employees Savings Thrift Plan, there may be variations of the plan available to specific employee groups or departments within the Travis County government. Although the specific names of these variations may vary, they typically share the same core features and objectives of the main plan. Overall, the Travis Texas Employees Savings Thrift Plan provides Travis County employees with a powerful tool to build a solid financial foundation for their retirement. By making consistent contributions and taking advantage of the employer match, participants can maximize their retirement savings potential and work towards a financially secure future.