Use employer's retirement plan
Radio Transcript, 60 seconds, for use during week
of Jan. 28.
This is an Invest Wisely minute brought to you by Iowa State University Extension.
A good way to save for retirement is to take advantage of retirement
options through your employment. The most common plan is a defined
contribution plan. Your benefit at retirement depends on the
amount contributed and the returns earned by the investments
in the account.
These plans are described as 401(k) plans, for employees of
many private companies, or 403(b) plans for public school teachers
and employees of nonprofit organizations, or 457 plans for state
and municipal workers. These plans get their names from
the sections of the IRS Code that authorize them.
If you haven’t already done this, find out which plan
is available to you and start using it.
Invest Wisely comes from Iowa State University Extension through
a grant from the Investor Protection Trust providing investor
education on the web at investorprotection.org.