Common use of SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM Clause in Contracts

SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM. Employees of the College have access to different types of voluntary savings programs to assist with saving for retirement. These programs allow monies to be set via payroll deduction to help supplement post-retirement income from Social Security and employer sponsored pension plans. Through the pre-tax option, contributions, plus earnings, are not taxed until the employee withdraws the funds, allowing for even greater savings through tax-deferred growth. Through the post-tax option, contributions are taxed at the time the employee makes them (via payroll deduction), and when the employees withdraws the funds (contributions or earnings), the employee is not taxed. Use of the post-tax option may help maintain a balance against tax rates that increase over time. Supplemental retirement savings programs include:

SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM. Employees of the College have access to different types of voluntary savings programs to assist with saving for retirement. These programs allow monies to be set aside via payroll deduction to help supplement post-post- retirement income from Social Security and employer sponsored pension plans. Supplemental retirement savings programs include: Through the pre-tax option, contributions, plus earnings, are not taxed until the employee withdraws the funds, allowing for even greater savings through tax-deferred growth. Through the post-tax option, contributions are taxed at the time the employee employees makes them (via payroll deduction), and when the employees withdraws the funds (contributions or earningsearn- ings), the employee employees is not taxed. Use of the post-tax option may help maintain a balance against tax rates that increase over time. Supplemental retirement savings programs include:.

SUPPLEMENTAL RETIREMENT ANNUITY PROGRAM. Employees of the College have access to different types of voluntary savings programs to assist with saving for retirement. These programs allow monies to be set aside via payroll deduction to help supplement post-retirement income from Social Security and employer sponsored pension plans. Supplemental retirement savings programs include: Through the pre-tax option, contributions, plus earnings, are not taxed until the employee withdraws the funds, allowing for even greater savings through tax-deferred growth. Through the post-tax option, contributions are taxed at the time the employee employees makes them (via payroll deduction), and when the employees withdraws the funds (contributions or earnings), the employee employees is not taxed. Use of the post-tax option may help maintain a balance against tax rates that increase over time. Supplemental retirement savings programs include:.