Retirement Plan Template

Every employed person has to face retirement and in order to make your retired life secure, you have to plan it in advance. Different types of retirement plans are available like employer sponsored group retirement plan or an individual retirement plan. It does not matter which retirement plan you are using but it should be effective enough and generate higher profit rate for you. If you want to make your retirement plan more useful and sound for your future then you have to start saving sooner according to your future goals. Some people just rely on the information given by the agents but it will be good to personally investigate everything before taking any decision about your retirement plan. Your plan should have everything to secure your upcoming future days.

Here is preview of this Retirement Plan Template created using MS Excel,

Retirement Plan Template

Vital Features of Retirement Plan

A retirement plan should include some vital features and the knowledge of these features will help you to take the decision about best retirement plan:

  • Your retirement plan should provide you with basic tax rates relief so that you can reduce income tax expense.
  • Charges of retirement tax plan should be user friendly so that a common man can also identify them conveniently.
  • Adviser remuneration options should be designed according to the business models so that they can take fund-based remuneration on the value of all assets.
  • You should have ability to buy, sell and switch the investments online via online retirement account. It will help you to manage your retirement account.
  • Employees should be able to participate in the plan to become aware of future payments and benefits during retired life.
  • With your retirement plan, you should be eligible to accrue contributions and receive a vested potion of benefits on the normal retirement age.
  • Eligibility age for the participation of plan should be more than 18 to avoid any legal problem.
  • Plan with 100 percent vest should require two years for the eligibility of plan holder.
  • Retirement plan should allocate contribution of employer on the non discrimination basis to all participants.
  • Retirement plan should deal with the statutory limitation related to the benefits and contribution of plan.
  • Contribution from employer should be accrued with the investment earnings to produce an account balance for each participant.
  • Participants of the retirement plan should be entitled with the vested portion of the account balance on the age of retirement.
  • Employees should be able to take the benefits of plan before the set date according to his/her needs.
  • Retirement plan should provide some additional benefits other than death, disability or other occurrences.
  • Retirement plan should feature self directed accounts and selection of own investment contribution to get maximum benefits of plan without incurring any loss.
  • There should be some disclosure and reporting facilities to take tax advantages with some fiduciary and investment requirements. Plan should be regulated by different government agencies to get some assured tax benefits according to the rules and regulations of your state.

Here is download link for this Retirement Plan Template,

Download Retirement Plan Template

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