12 Things You Should Know About Your Company’s Retirement Plan
Enrolling in your company’s retirement plan can be key to planning for your financial future.
Although retirement plans have some similarities, the details between plans may create important differences. To make the most of your retirement plan, it’s important to know the ins and outs of your plan before you join
Here are 12 questions to ask about your company retirement plan:
- What types of plan is offered and what are its features?
- When can you begin contributing?
- Does the company match your contribution – and how much is the match?
- How long does it take to be vested in the plan?
- What is the maximum annual contribution?
- Will contributions lower your taxable income so you can your account can grow tax-deferred?
- Can you can select your own investments – and how often can change them depending on your risk comfort level?
- How can you obtain a schedule and explanation of the plan management fees?
- Who are the fund managers and how have they performed in the past?
- Are statements, tools and retirement planning resources available online?
- What are the conditions for borrowing or withdrawing from the account, if it’s allowed?
- Who should you contact if you have additional questions?
Take the next step
To find out more about saving for retirement, call us at 1-800-626-3112.
Keep in mind that all investing involves market risk, including the possible loss of principal. Neither Nationwide nor any of its representatives give legal or tax advice. Keep in mind assets withdrawn from a qualified plan may be subject to a 10% penalty tax if withdrawn prior to age 59 1/2, and all may be subject to income tax.