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Dan,
How Much Do You Contribute To
Retirement?
How much do you contribute to your
organization's retirement plan? Only 14
percent of participants contribute the maximum amount to
employer-sponsored 401(k)'s and similar plans. (These
statistics are taken from Bernice Kanner, Are You Normal about
Money?, 65.)
Here are the 2008 Contribution Limits for 403(b) and
401(k) Plans:
Elective Deferral Limit: $15,500
Age 50 Catch Up:
$ 5,000
15 Years of Service Catch Up:
$ 3,000 (403(b) plans
only)
Maximum Combined
Employee and Employer Contribution:
$46,000 (or 100% of compensation - apply the lesser of the
two)
Maximum Combined Employee
and Employer Contribution
(if the Age 50 Catch Up applies):
$49,000 (or 100% of compensation - apply lesser of the two)
Quick Cents Application Points:
1.
Discuss why you do or do
not contribute to your company retirement plan.
2.
What steps can you take
to increase your contribution so that you work toward contributing the
maximum to your plan?
3.
Email Envoy Financial
to make an appointment with a LifeStage Specialist for an account
review today to see if you are on track for retirement with your
current contribution level.
For assistance with your Future-Funded Ministry
Plan or other financial stewardship needs, contact us at (888)
879-1376, opt. 1, or by email. It is
our ministry to serve your ministry!
Seize The Day!
In His Service,
Bethany
Palmer
Executive Director & Co-Founder
Envoy Financial
Trusted Advice Along The Way
Envoy Financial 5350 Tomah Drive, Suite 2500, Colorado Springs, CO 80918
(888) 879-1376 ~ Fax: (719) 268-2716 ~ envoy@envoyfinancial.org ~
www.envoyfinancial.org
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Advisory Services and Securities offered
through Lincoln Investment Planning, Inc. Registered Investment
Advisor, Member FINRA/SIPC. Lincoln Investment Planning, Inc. and Envoy
Financial are independently owned and each is responsible for its own
business.
IMPORTANT: The security of electronic mail sent through the Internet is
not guaranteed. Lincoln Investment Planning, Inc. (Lincoln) and Envoy
Financial therefore recommend that you do not send confidential
information to us via electronic mail, including social security
numbers, account numbers, and personal identification numbers.
Delivery, and timely delivery, of electronic mail is not guaranteed.
Lincoln therefore does not accept time-sensitive or action-oriented
messages delivered to us via electronic mail, including authorization
to "buy" or "sell" a security or instructions to conduct any other
financial transaction. 10-07
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