ABA Retirement Funds Introduces Two Plan Features: Retirement Date Funds and Roth 401(k).New Retirement Plan Features Cater to Individuals Who Want Managed Fund Options or Who Want to Make After-Tax Deferrals to Their 401(k) Plan NORTH QUINCY North Quincy is the northernmost neighborhood of Quincy, Massachusetts, and is separated from the City of Boston by the Neponset River. North Quincy has a significant Chinese American and Eastern Asian population; at the corner of Hancock Street and Billings Road, there are four , Mass. -- ABA Aba (ä`bä), city (1991 est. pop. 264,000), SE Nigeria. It is an important regional market, a road and rail hub, and a manufacturing center for cement, textiles, pharmaceuticals, processed palm oil, shoes, plastics, soap, and beer. Retirement Funds (ABA/RF), which offers tax-qualified retirement plan services to qualified legal professionals, has introduced five new investment options and a Roth 401(k) feature for forward-minded investors who want to accumulate hassle-free retirement savings. Retirement Date Funds and a Roth 401(k) have been added to ABA/RF's program to meet the changing retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. needs of their participants. Retirement Date Funds are designed for investors who prefer managed fund options or lack the time to regularly monitor their investments. These new ABA/RF fund offerings are suitable for individuals uncomfortable changing their asset allocations Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. over time to meet their retirement goals. Retirement Date Funds are rebalanced annually based on an individual's selected retirement date to help manage their portfolio asset allocation Portfolio asset allocation The distribution, by type of asset, of a portfolio's holdings. as they near retirement. "The new additions to the ABA Retirement Funds program offer participants new investment options, tools, resources and educational material that can help them understand what they can do now to be more prepared for retirement," said Beth Halberstadt, Senior Vice President/Program Director for ABA Retirement Funds. ABA/RF's other new offering Co the Roth 401(k) feature Co gives investors the opportunity to make after tax deferrals tax deferral The delay of a tax liability until a future date. For example, an IRA may result in a tax deferral on the amount contributed to the IRA and on any income earned on funds in the IRA until withdrawals are made. into a "Roth" 401(k) account and then enjoy tax-free withdrawals after retirement. Further, qualifying distributions are also tax-free. The Roth 401(k) may be a good choice for investors who expect to be taxed at a higher rate in retirement, individuals whose income level prevents them from contributing to a Roth IRA Roth IRA An individual retirement plan that bears many similarities to the Traditional IRA. Contributions are never deductible, and qualified distributions are tax-free. A qualified distribution is one that is taken at least five years after the taxpayer established his/her first , and investors who plan to remain invested for at least five years. Participants who want to further refine their retirement savings strategy can receive objective advice from experienced financial planners Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. through the CitiStreet Advisor Service. CitiStreet Participant Services Representatives are available from Monday - Friday from 8 a.m. to 8 p.m. Eastern time at (800) 348-2272. ABA Retirement Funds offers tax-qualified retirement plan services to qualified legal professionals, along with educational information related to retirement planning and funding. The ABA Retirement Funds program ("the Program") is administered by State Street Bank and Trust, and includes plan administration, investment management and advice. ABA Retirement Funds has earned "preferred vendor status" with 28 state bar associations and legal organizations including: AL, AR, AZ, CO, CT, DC, GA, HI, IL, IN, KS, LA, ME, MN, MS, NH, NV, NM, NY, NC, ND, OK, RI, VT, WA, WI as well as AILA and AIRE. The Program is also an ABA Member Advantage company. For more information, call 877-948-2272 or visit www.abaretirement.com. |
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