Retirement Topics - Benefits of Saving Now


Why should you enroll in a retirement plan or contribute to an IRA?

Did you know…

  • That retirement can last for 30 years or more?
  • That a common rule to follow is that a retiree will need up to 80% of his/her annual income today to retire comfortably?
  • That the average benefit amount paid monthly by the Social Security Administration is $1,177?


  • Tax on employee and employer contributions is deferred until distributed.
  • Investment gains in the plan are not taxed until distributed.
  • Retirement assets can be carried from one employer to another.
  • Contributions can be made easily through payroll deductions.
  • Saver’s Credit is available.
  • Flexible plan options are available.
  • Better financial security at retirement.

Example of time value of money

Future Retirement Savings Value - Assuming 6% annual return

Monthly Savings

5 years

15 years

20 years













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