Money Matters
Xstatic3333
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Work retirement plan for tiny offices
I was just chatting with our admin assistant about retirement. Her husband is high income, and she'd really like to look into us getting a pretax work retirement plan to reduce her family's taxable income (I did let her know about traditional IRA's as something to look into; she didn't realize that her contributions there would be tax deductible). I'm in the bracket that benefits more from using a Roth as a retirement vehicle, but am very interested in having a "set it and forget it" type account that removes any temptation for me to reallocate my retirement money. Within a couple of years, I'd also like to be contributing more than just the maximum Roth contribution. I'm curious, do any of you who work in very small workplaces have a work retirement plan? If so, with what company? How are the fees? We're a workplace of 4, soon to be 5, with no HR department. We're a pretty open organization, and if I brought a plan to my board that makes financial and logistical sense they probably wouldn't have any problem with it.
Re: Work retirement plan for tiny offices
I'm trying to remember, do you work for a non-profit or is it private? I'm at a public, non-profit commission, so our only employer option for retirement is 457 deferred compensation. We have an employer-funded pension also, but obviously you can't add to or control that.
Yeah, I always forget what category of non-profit we are, but it's a similar thing where we were created by statute, so definitely not a 501c3. I was working for the state before and I was able to transfer my state retirement contributions (had not vested) into a 403(b), but I am pretty sure I cannot contribute more into it now. But we can still do the 457 plan. It's got some decent options for funds, but you don't have complete control IIRC. I've only got about $1000 in it, so it's just in a target fund for me right now.
@maple2 I'll Google the company you mentioned just in case. Thank you!
@simplyelise thanks for your feedback too!