state government pension retirees.

State Government Pensions

State government pension plans represent a touchstone of public finance, providing long-term financial stability for millions of public sector workers. This comprehensive, yet focused guide will take you through what these pension plans are, how they function, and the benefits workers receive in their retirement years. How Does a Local …

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ira retirement account beach

What Is an IRA?

What Is an IRA? An IRA is an individual retirement arrangement, but what does IRA really mean? IRA Definition An IRA is a tax-advantaged account used for retirement savings. IRAs are defined and governed by the IRS through Publication 590-A Contributions to Individual Retirement Arrangements, and Publication 590-B Distributions from …

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457 retirement

Roth 401k and Roth 457 Plans

By now, many people are familiar with the basic concepts of a 401k retirement savings plan. But did you know there are different kinds of 401k plans? Do you know what a 457 plan is, or what its variation, the Roth 457 plan is? If you already have a good …

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why roth ira best for younger people

Why Are Roth IRA Better for Young Adults

There are several different retirement account types, so why is Roth IRA better for young adults? What makes Roth IRA best for certain people? Can older people still benefit from Roth IRA? Why Are Roth IRA Good? A Roth IRA is one of several tax-advantaged retirement accounts. Like the traditional …

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roth 457 retirement plan

How To Use Roth 457 Plans

When it comes to retirement planning, 457 plans are kind of the neglected younger sibling of the better known 401k plans. Both are employer sponsored retirement plans, meaning your employer has to set them up for you, unlike an IRA or Roth IRA which are individual retirement plans. However, a …

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401k Contribution Limits 2022 and 2023

401k contribution limits prevent higher income taxpayers from stuffing too much money tax-free into their 401k plans. Each year, the IRS adjusts tax numbers due to either tax law changes, or statutorily mandated adjustments. However, in some cases, the tax amounts are tied to inflation so that they automatically adjust. In …

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