Since a distribution from a retirementplan may result in tax consequences to the employee, a retirementplan created by an employer must comply with IRS criteria in order to offer a hardship withdrawal as an alternative.
Neglecting to fund a retirementplan or forgoing an employee stock purchase plan could have catastrophic results in losses of hundreds of thousands of dollars and delaying retirement for many years.
Develop a budget by figuring out how much you need to set aside for quarterly tax payments, capital expenditures, your retirementplan, employee salaries and other areas.
The best bilingual debater on the government benches, Mr Martin has managed to portray a 70% increase in employee contributions to the government pension plan as investment in retirement rather than a disguised tax.
This would also be very much like the highly successful private retirement investment systems used for the federal employee Thrift Savings Plan and for the private alternative to Social Security used for local government workers in Galveston, Texas.
The Administration will require most employers who do not currently offer a retirementplan to enroll their employees in a payroll-deduction IRA unless the employee opts out.