retirement

Understanding RMDs
Team SummitBudgeting & Debt, Employee Financial Resource Center, Financial Planning, Retirement PlanningComments are off for this post
After years spent saving for retirement and allocating non-taxed dollars into your retirement savings, the time will inevitably come when you have to pay tax on that money. Although account owners are allowed to begin taking distributions penalty-free at age 59½, they are not yet required to take any money out of their accounts. All  Read More →
Employee Stock Ownership Plans (ESOPs): A Detailed Introduction
Team SummitEmployer Resource Center, Fiduciary Governance, Plan Operations & AdminComments are off for this post
The basics: The ESOP is essentially a stock bonus plan in which employer stock may be used for contributions. How It Works Employer contributes company stock or cash to the plan. Employer contributions are tax deductible. Contributions are not taxed currently to the employee. Earnings accumulate income tax-deferred. Distributions are generally taxed as ordinary income.  Read More →
Rebalancing Your Portfolio
Team SummitEmployee Financial Resource Center, Investment ManagementComments are off for this post
As a participant in the company’s retirement plan, you are committed to saving for your future. Whether you are retiring in a few weeks or a few decades, you may need to protect your investment. A healthy way to do this is to rebalance your portfolio. What is rebalancing? Rebalancing is readjusting your portfolio back  Read More →

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