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Will you have #enough for retirement?
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Source = Money.com 

Retirement #Calculators

• 360 Degrees of Financial Literacy
• AARP - Retirement
• American Institute of Certified Public Accountants - 401(k) plans
• American Institute of Certified Public Accountants - Retirement Planning Basics
• Blueprint Income - Build A Personal Pension Calculator
• Choose-to-Save - Ball Park E$timate
• Financial Calculators: Retirement Savings
• ssa.gov/estimator
• Estimate Your Life Expectancy
• Other Benefit Calculators
• When to Start Receiving Retirement Benefits #10147 SSA.Gov
  • Benefits For Your Spouse
• Other Things To Consider
• Retirement Toolkit  DOL
• my Social Security account
• fairly geeky, there are good spreadsheets at www.analyze now/ but they are not easy
• Forbes 5 calculators
• Smart Asset.com Social Security Calculator
  • Retirement Calculator

Payroll #Deduction IRA

Payroll Deduction IRA for Small Biz # 4587

A payroll deduction individual retirement account (IRA) is an easy way for businesses to give employees an opportunity to save for retirement. The employer sets up the payroll deduction IRA program with a bank, insurance company, or other financial institution, and then the employees choose whether to participate. Employees decide how much they want deducted from their paychecks and deposited into the IRA. They may also have a choice of investments, depending on the IRA provider.

Many people not covered by an employer retirement plan could save through an IRA, but don’t. A payroll deduction IRA at work can simplify the process and encourage employees to get started.

Under Federal law, See Publication 590 A individuals saving in a traditional IRA may be able to receive some tax advantages on the money they contribute, and the earnings on the contributions are tax-deferred. For individuals saving in a Roth IRA, contributions are after-tax and the earnings are tax-free.

Advantages of a payroll deduction IRA:

• Simple for employees to set up an IRA.
• Employees make all of the contributions. There are no employer contributions.
• Many employees find smaller, regular contributions a more manageable way to save.
• Low administrative costs.
• No filings with the government to establish the program or any annual reports.  
  • However 
    • You have to register and tell Cal Savers on their website.  
    • Payroll deduction IRAs with automatic enrollment are considered a qualified plan ^{Cal Savers} *
• No minimum number of employees required.
• Program will not be considered an employer retirement plan subject to Federal reporting and fiduciary responsibility requirements as long as the employer keeps its involvement to a minimum.
• May help attract and retain quality employees.
• Learn more - read Payroll Deduction IRA for Small Biz # 4587

Links & Resources

• Our main webpage on IRA's 
• capitalgroup.com/payroll-deduction-IRAs
  • Program Highlights
• Cohesive Insurance Peter Buechler