- Arizona Retirement System
Arizona state and local employees should feel confident about the quality of the state’s retirement system, as well as each of its subcategories. It also boasts a simple set of retirement systems that are particularly inclusive. This makes it extremely… read more…
- New Hampshire Retirement System
The New Hampshire retirement system is fairly straightforward. Members are split into two broad categorizations, and a large majority is in the first category. Since your pension benefits will likely be only one part of your retirement savings, you may… read more…
- Washington Retirement System
The Washington Retirement System, managed by the Department of Retirement Systems (DRS), is a somewhat sprawling collection of retirement plans. While all systems are primarily defined benefit plans, many plans introduced a defined contribution portion for members hired more recently… read more…
- Tennessee Retirement System
The Tennessee Retirement System, known also as RetireReadyTN, is one of the best-run state retirement systems in the country. Employees are split into a few intuitive categories, and understanding what you can expect to receive in retirement is fairly straightforward.… read more…
- Wyoming Retirement System
The Wyoming Retirement System (WRS) encompasses seven pension plans with about 82,000 active members, according to the system’s 2022 annual summary report. Like all defined benefit plans, active members contribute throughout their careers and then receive monthly payments for life in… read more…
- Florida Retirement System
The Florida Retirement System (FRS) offers two retirement plans for state employees: a pension plan for long-term workers and a defined contribution plan for shorter-service workers (or people who do not plan on working for the state for more than… read more…
- Texas Retirement System
Texas believes all residents should have the “three-legged stool” of retirement income. This trio consists of Social Security benefits, personal retirement savings and state retirement. The Texas retirement system is fairly straightforward for public employees, so you should be able… read more…
- Kentucky Retirement System
The state retirement system of Kentucky had been in deep crisis for some time. But the recently developed “Keeping the Promise” plan that Governor Matt Bevin introduced looks to fix this long-running issue. Aside from this, the state’s pension plan… read more…
- Understanding the Virginia Retirement System
The Virginia Retirement System, or VRS, is the state agency that administers the pension fund for state employees. The pension fund is the 19th largest in the U.S., and paid out roughly $5 billion in benefits to about 214,000 retirees… read more…
- New York Retirement System
The pension fund of New York is one of the three largest in the nation and serves well over one million plan participants. This success has put the state in a great spot for the health of its employees’ retirements.… read more…
- 403(b) Contribution Limits in 2024
If you are an employee of a public school or a nonprofit, you are likely familiar with 403(b) retirement plans. Like a 401(k), these plans allow participants to contribute pre-tax dollars throughout their careers in order to save up enough… read more…
- 403(b) vs. 457(b): What’s the Difference?
It’s never too early to begin saving for retirement. Whether you’re new to the workforce or have years of experience, taking advantage of employer-sponsored, tax-advantaged retirement plans can set you up for long-term financial success. Two common options are the 403(b) and 457(b) plans. Both allow you to contribute a portion of your salary toward… read more…
- Pension vs. Annuity: What’s the Difference?
Pensions and annuities are two common sources of retirement income. However, they are quite different with their own advantages and disadvantages. Which one is better for you will depend on your individual circumstances. For example, some people may choose a… read more…
- 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…