Mitsui & Co. Energy Marketing and Services (USA), Inc.’s Post

The IRS increased the 2024 retirement account contribution limits! Employer sponsored retirement plans such as a 401k, 403b or 457 increased to $23,000. The catch up contribution limit for anyone 50+ is $7,500 Roth IRA or Traditional IRA limit increased to $7,000. The catch up contribution limit for anyone 50+ remains at $1,000 If you’re contributing monthly into your IRA, consider increasing this to max out for 2024. If you’re contributing to an employer sponsored retirement plan, consider increasing the % of your contribution so you can get closer to maxing it out

Stay informed about the latest #retirementplanning trends in Hawaii with the 2023 Retirement Plan Survey. The survey sheds light on the various aspects of retirement plans and provides valuable insights into their company contributions, retirement provisions, investment options, and measures of success. Understand the key takeaways of the retirement plan survey and make informed decisions regarding your employees’ financial well-being in retirement. Follow us for more information on employment issues. https://ow.ly/3UPX50PgReq #RetirementTrends #RetirementPlan. #HEC #HawaiiEmployersCouncil

Employer Sponsored Retirement Plans: Helpful Resources   Much has changed and continues to change when it comes to Employer Sponsored Retirement Plans. The passage of Secure 2.0 and the push, primarily from the States, strongly encourages and in some cases mandates employers provide a retirement plan for their employees. Locally, Maryland Saves went into effect in 2022 and RetirePath in Virginia became effective in 2023. If you are considering establishing a retirement plan for your business or, know of a business owner exploring the establishment of a plan, I look forward to a more in-depth conversation with you. Attached are several resources providing additional information for creating an employer sponsored retirement plan for a business and it’s most important asset; its valuable employees. https://lnkd.in/ecr-eNFt https://lnkd.in/e4e8DHXJ https://lnkd.in/eufV9ZZi

Employer Sponsored Retirement Plans: Helpful Resources   Much has changed and continues to change when it comes to Employer Sponsored Retirement Plans. The passage of Secure 2.0 and the push, primarily from the States, strongly encourages and in some cases mandates employers provide a retirement plan for their employees. Locally, Maryland Saves went into effect in 2022 and RetirePath in Virginia became effective in 2023. If you are considering establishing a retirement plan for your business or, know of a business owner exploring the establishment of a plan, I look forward to a more in-depth conversation with you. Attached are several resources providing additional information for creating an employer sponsored retirement plan for a business and it’s most important asset; its valuable employees. https://lnkd.in/ei4ZRSDt https://lnkd.in/epP4dRGb https://lnkd.in/eH6JzxCJ

Are your clients considering an early retirement package? This shareable Early Retirement Package infographic illustrates a number of factors to consider before making any decision about an offer. The value and structure of early retirement packages are complicated and can vary significantly. While it may be a great opportunity for some, for others, there can be risks. https://lnkd.in/gfuZgesB

Whether you are looking to: ✅ Launch a first-ever workplace retirement savings program ✅ Upgrade a retirement program from a group RRSP or a defined contribution plan ✅ De-risk an existing defined benefit plan to free up the time and cost it takes to manage the plan in-house DBplus can help you secure lifetime retirement income for your employees. Comment below what makes your organization unique. #Flexibility #LifetimePension #RetirementBenefits

The Retirement Analysis Kit (TRAK) is innovative retirement software with a proven track record of helping advisors engage and motivate people towards retirement readiness. Answer the important questions your clients have about retirement: https://bit.ly/3QquYPh #RetireReady #RetirementPlanning #403b #401k #TRAK #TheRetirementAnalysisKit

Thanks to the SECURE Act of 2019, employers can now offer a retirement plan option through a pooled employer plan (PEP). And so, TPG is excited to present The Partners Retirement Plan, an innovative new 401(k) option. Now is a great time to request a consult – you never know where you could save your HR team administrative time and costs. But we do! Schedule an appointment with TPG’s retirement plan consultants today – it’s that simple. https://bit.ly/3V5S7e8 #401K #retirementplanning #PEP #PooledEmployerPlan #retirement #financialadvisor #pooledemployerplan #irafinancial #retirementsavings #retirementservices

A Defined Benefit (DB) retirement plan is a type of company-sponsored retirement plan that promises a specific, predetermined benefit to employees upon their retirement. This benefit is typically based on a formula that takes into account various factors such as an employee's salary history, years of service with the company, and age at retirement. Unlike Defined Contribution (DC) retirement plans, where the eventual retirement benefit depends on the contributions made and the investment returns earned, DB plans provide a guaranteed retirement income. One example of a DB is the minimum retirement benefit under Republic Act 7641 where the formula is ½-month salary or 22.5 days pay for every year of service when the employee attains age 60, given that the employee has at least 5 years of service with the last company.  For more info click here: https://lnkd.in/g8ViNeNB 

Maximizing Your Federal Employee Benefits: A Comprehensive Retirement Analysis Guide Are you a federal employee looking to make the most of your retirement benefits? Our latest blog post, "Maximizing Your Federal Employee Benefits: A Comprehensive Retirement Analysis Guide," offers expert insights and actionable tips to help you navigate your retirement planning. 📊 Understand Your Options: Learn about the various retirement plans available to federal employees and how to choose the best one for your financial goals. 💡 Optimize Your Benefits: Discover strategies to maximize your Thrift Savings Plan (TSP) contributions, manage your Federal Employees Retirement System (FERS) benefits, and make the most of Social Security. 🔍 Detailed Analysis: Gain a deeper understanding of how your benefits are calculated and how to plan effectively for a comfortable retirement. Don't leave your future to chance. Empower yourself with the knowledge you need to secure a financially stable retirement. Read the full guide now and start planning for your dream retirement today! #FederalEmployees #RetirementPlanning #FinancialSecurity #TSP #FERS #SocialSecurity #RetirementGuide https://lnkd.in/eYZ73ffx