Internal Revenue Services. Carol V. Wickens Herzer Panza. Accessed and downloaded Nov. Roth IRA. Retirement Planning. Income Tax. Retirement Savings Accounts. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page.
These choices will be signaled globally to our partners and will not affect browsing data. We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Retirement Planning Retirement Savings Accounts. Table of Contents Expand. The Plan. The b Plan. How to Choose. Key Takeaways Public-sector and nonprofit organizations don't offer their employees k plans. These organizations can offer other employer-sponsored plans, such as the b and the plans.
There are two different types of plans—the b , which is offered to state and local government employees, and the f is for top executives in nonprofits. If you are eligible for both plans, you can split your contributions between them. The IRS makes regular adjustments to contribution and deduction limits based on inflation. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Articles. Partner Links. This usually is not a factor, unless your company has serious debt problems. Then creditors can take the money that's in your b plan, even though you put it there.
Pension law also restricts which employees can use a non-governmental b. Often it's available only to highly paid employees as a special perk, so the average employee isn't going to have access to one of these.
Often your company will dictate whether you have a b or a b plan. If you work for the government, you'll likely get a b plan, and if you work for a public school or a church, you will probably have a b.
The only people who may have to make a choice between the two are some nonprofit employees. Both accounts can be smart places to save for retirement , but you may prefer one over the other based on your situation. For example, if you've been with your company at least 15 years, a b will offer you the chance to make extra contributions you may not get with your b. But if you're close to the normal retirement age for your b , it might enable you to contribute more than a b.
You should also consider your investment options and the associated fees. If your b offers only annuities, you may find a b , which often has more investment options, to be more affordable. Ultimately, the most important thing is saving regularly, whichever type of account you have. You could have the best retirement account there is, but it won't matter if you're not actively using it. If you have any questions about how your b or b plan works, ask your employer for more information so you can make smart decisions about how to best save for your retirement.
Discounted offers are only available to new members. Stock Advisor will renew at the then current list price. Investing Best Accounts. You cannot contribute to the b and later transfer it to a b SRA in order to get access to the SRA cash withdrawal options. However, once you have retired or terminated employment, you may rollover the b to another eligible retirement plan. The University of Michigan in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents.
Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend, or terminate them.
Every effort has been made to ensure the accuracy of the benefits information in this site. However, if any provision on the benefits plans is unclear or ambiguous, the Benefits Office reserves the right to interpret the plan and resolve the problem. If any inconsistency exists between this site and the written plans or contracts, the actual provisions of each benefit plan will govern. Retirement Savings Plans.
0コメント