- What Is a Thrift Savings Plan?
Everyone has to plan for retirement, but most retirement conversations revolve around 401(k) plans. While ideal for retirement savings, you can only have a 401(k) plan as an employee of a private company. This does not include government or military employees.… read more…
- SIMPLE IRA Contribution Limits for 2025
A SIMPLE IRA is an excellent tool for small business owners to help their employees save up for retirement. This type of retirement account combines features of both the traditional IRA and the 401(k). Like both of these plans, the… read more…
- What Is a Keogh Plan? Definition, Types and Benefits
Self-employment or working for a small business may sound like a dream. However, one downside is that you likely won’t have access to a workplace retirement plan like a 401(k). Sure, you could max out the $6,500 annual IRA contribution… read more…
- What Is a Stretch IRA?
A stretch IRA is a way to limit required distributions on an inherited IRA, avoiding a sizable tax bill in the process. Instead of naming his or her spouse as the IRA’s beneficiary, an account holder can name children, grandchildren… read more…
- What Is a Pension Plan? Definition, Types and How It Works
A pension plan is a type of retirement plan where employers promise to pay a defined benefit to employees for life after they retire. It’s different from a defined contribution plan, like a 401(k), where employees put their own money… read more…
- What Is a SIMPLE IRA?
A SIMPLE IRA is a retirement savings option for the owners and employees of small business. True to its name, the SIMPLE IRA is easy to set up and administer. If you’re a business owner, a SIMPLE IRA lets you save… read more…
- What Is a Defined Benefit Plan?
A defined benefit plan is a retirement plan in which employers provide guaranteed retirement benefits to employees based on a set formula. These plans, often referred to as pension plans, have become less and less common over the last few… read more…