As a Resolvit employee, you are eligible to participate in the Resolvit Resources 401k Retirement Plan. Resolvit has teamed with Fidelity Investments to offer you a retirement plan with exceptional benefits. Resolvit employees become eligible to participate after the first day of the month following ninety days of continuous employment. At this point, employees can set aside up to 6% of their salary each pay check, which is non-taxed, towards their retirement portfolio. After a year of being employed with Resolvit, we will match 50% of that money from that point on.
Once you have started to put money aside, Fidelity offers a variety of investment options. Some of these include the money market, bonds, specialty, domestic equities, and international/global equity. You will have the opportunity to discuss which option may work best for you by contacting a Fidelity specialist.
A couple of important things to remember when considering the Resolvit 401k Retirement Plan:
· Start with what you can afford. At any point in time, you can adjust the amount you are contributing. For example, in the first year you may choose to contribute less money towards the plan. However, as you grow with Resolvit and we begin to match 50% of the money you put aside, you may choose to increase the amount you put aside.
· The more you invest, the less you pay in taxes. For instance, if an employee with a salary of $40,000 puts 6% into their retirement plan--that is around $70 per pay check-- this person will save almost $42 per paycheck in taxes.
· The earlier you start the better. There is a significant difference in starting to contribute to your 401k when you are 25 years old versus 35 years old. ABC’s Good Morning America did a segment on personal finance that focuses on the advantages of starting early. Included in this article is a break down the how much an employee would accrue by the time they retire depending on if they started earlier or later in their career. The difference is astonishing.
The Resolvit 401k Retirement Plan is fantastic opportunity that we provide all of our client service employees. So take a couple minutes to think about the advantages of putting aside money now and working towards a more secure retirement. Please contact me with any questions about our plan or how to enroll today.