How to Take Full Advantage of Your Retirement Plans
Have you considered including Doernbecher Children's Hospital Foundation as a beneficiary of your retirement plan? Because retirement assets are heavily taxed when left to loved ones, they make an excellent charitable gift after your lifetime to tax-exempt organizations like ours. It's easy to do—just list us on the beneficiary designation form for a percentage (0-100) of your account.
Before you consider a gift of your retirement plan to us, however, you must know how to wisely build up your plan so you can live comfortably during retirement.
3 Questions to Ask Your Employer
One of the most popular forms of retirement plans is the 401(k), where employers can match a portion of your contribution. To get the most out of your company's 401(k) plan, make sure you know the answers to these three questions:
- How long must I be employed before making contributions to a 401(k) and receiving the company match?
- What is the maximum salary match the company will contribute?
- Is there a vesting schedule that applies to the company match?
Don't Lose Out
Unfortunately, one of the biggest financial mistakes that employees make is not taking full advantage of their company's 401(k) plan match. So to ensure that you don't lose out on the "free money" offered by your employer, make sure you contribute enough to qualify for the full company match.
How Much You Need to Contribute for a Full Match
Maximum Employer Contribution
|50% for every dollar up to 10%||5%||10%|
|Dollar for dollar up to 5%||5%||5%|
|Dollar for dollar for the first 3% and 50% on the dollar for the next 4%||5%||7%|
Please contact Office of Gift Planning at Toll Free 800-800-9583 or 503-294.7101 or firstname.lastname@example.org to learn more about the benefits of using your retirement plan to support our mission.