New PDF release: 401(k) today: designing, maintaining & maximizing your

By Stephen J Butler

ISBN-10: 1576750639

ISBN-13: 9781576750636

The writer, cofounder of a third-party pension management company and public speaker, discusses how 401(k) plans paintings, the way to check the standard of a plan, and the way to revamp it to be higher. Of most likely curiosity to corporation decision-makers and lively 401(k) plan individuals.

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Page 28 Assume that on January 1, Company ABC's 401(k) plan has a total investment of $94,000 in a mutual fund. During the next quarter, the plan's participants add $1,000 each pay period for a total of $6,000. On March 31, the plan's cost basis in the mutual fund is $100,000. Also during the quarter, the mutual fund's investments appreciate, and on March 31, the mutual fund's statement shows that the plan's account is valued at $102,500. The difference between the $102,500 value and the $100,000 cost basis constitutes a $2,500 gain.

The savings earn an average annual return of 8%. ) 3. By the end of year 20, the savings in the plan total $88,353. Now to calculate what a person would have saved in a regular savings plan, assume: 1. An employee saves $150 per month for 20 years. 2. The employee pays combined federal and state taxes at a rate of 34%. 3. The savings earn an annual rate of 8%. Using after-tax dollars in a regular savings plan, the employee accumulates only $42,034. This compares to $88,353 using the 401(k) plan.

A Plan Sponsor The plan sponsor is the corporation or business entity that offers the plan to its employees. The plan sponsor ultimately controls all aspects and decisions of the plan not dictated by the government. The responsibilities of the plan sponsor are performed by the trustees of the plan. Plans Offer Professionally Managed Investment Choices Most participants wind up with better investment performance in their 401(k) plans than they would experience otherwise; there are several reasons for this.

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401(k) today: designing, maintaining & maximizing your company's plan by Stephen J Butler


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