Why is my company forcing me to enroll in a retirement plan when I already save and pay Social Security?
回答 (21)
2019-08-22 6:47 am
Social Security should be viewed as a supplement only, when you are no longer working. You will find that being enrolled in a retirement plan will be of great advantage to you during your twilight years.
2019-08-22 4:44 am
If you think you will be able to retire on Social Security alone...go ahead and don't take any other retirement plans...just don't ask for a handout when you realize it isn't enough or isn't even there by the time you retire...
2019-08-22 4:36 am
SS replaces about 25-30% of the average persons income
If SS is all you have at retirement its hard to survive let alone enjoy life
If SS is all you have at retirement its hard to survive let alone enjoy life
2019-08-22 4:04 am
Social Security alone isn't enough.
You can probably opt out of the retirement plan but that would be a bad idea.
You can probably opt out of the retirement plan but that would be a bad idea.
2019-08-22 8:30 am
Your companies retirement program has nothing to do with social security. All companies are free to set up whatever type of plan they like. If you are required to pay into it then be glad that you do because you won't be able to live on social security alone. The intent of the social security program is to SUPPLEMENT other retirement plans - not be the main retirement plan. Consider that the AVERAGE monthly social security benefit is about $1300. Can you really live on that? NOT paying into an employer's plan is foolish.
參考: I was a SS claims rep for 32 yrs.
2019-08-22 7:54 am
A social security pension is going to give you a very poor retirement. You really need more. And it's a better way to save because your employer pays in too and there is tax relief on it - so why do you want to say no to free money?
2019-08-22 4:05 am
That's typical of employers. But they usually give you some options on the plan and the minimum/maximum contributions.
2019-08-22 4:24 am
blink blink... omg.... forcing? You should be running to make contributions to get the matching. SS is meant to be a bare minimum income not your retirement plan, good lord what are they teaching kids in school these days, to do nothing and be dependent on the government for everything???
2019-08-27 8:38 pm
How dare they ! What is this world coming to? I bet they even tell you what time to show up to work? I'd file a grievance.
2019-08-22 7:36 am
And you really really (really) haven't heard that SS isn't enough to retire on?? Not to mention that you're likely missing out on the company match if you DON'T CONTRIBUTE to their 401k.
You can retire @ 66 with a million in your 401k. Or you can struggle to make ends meet on Social Security.
You can retire @ 66 with a million in your 401k. Or you can struggle to make ends meet on Social Security.
2019-08-23 8:14 pm
You should be able to opt out
2019-09-28 2:46 pm
Be glad you have the option of a 401K or some other type of retirement. When you are working it lowers your tax burden
Social security alone will not be enough to live on at retirement age. You may even need to work somewhere to make ends meet or get the medical benefts.
Social security alone will not be enough to live on at retirement age. You may even need to work somewhere to make ends meet or get the medical benefts.
2019-09-17 1:46 pm
The State of Illinois has had this plan for a few years now and the final phase, enrolling businesses with less than 100 employees, has to be done before the end of October.
The form we got to comply with this law says it's mandatory on the front of the form but on the back it says it's voluntary. Apparently, we have to have this available through our payroll company for new employees who have signed up and want to continue their 401k payments though us. People who already have their own retirement savings plan (with a financial institution, not your mattress) are exempt.
The rules are very vague and I had trouble finding a current reference with details. This link is the best I found..
The form we got to comply with this law says it's mandatory on the front of the form but on the back it says it's voluntary. Apparently, we have to have this available through our payroll company for new employees who have signed up and want to continue their 401k payments though us. People who already have their own retirement savings plan (with a financial institution, not your mattress) are exempt.
The rules are very vague and I had trouble finding a current reference with details. This link is the best I found..
2019-09-12 12:52 am
Because Social Security is poverty level benefits.Can you live on $30 a week now? The earlier you start,the more it grows. Either a Roth IRA or Mutual Fund stocks.
2019-09-02 12:51 pm
Take the plan. SS will barely cover food.
2019-09-01 2:22 pm
It's called Superannuation and by paying into it each pay period it ensures that by the time you retire, you should have sufficient funds to support yourself without having to rely on a pension/ social security. Works in Australia! I have been retired for 4 years and still able to draw money from it and get a small aged pension payment as well.
2019-08-24 11:24 am
MOST small companies DON'T HAVE A RETIREMENT PLAN. So you have no option except Your own savings you accumulate for all the years you been working AND BANKING IT. Most workers can't save so there is $0 for them when retirement comes but they can't retire, so they become Wal mart greeters just for the extra money because they can't get a job doing anything else cause they is too old.
If your company has a retirement plan YOU JUMP IN WITH BOTH FEET. because it is something more than government SS. so way better for you. Those people who are self employed got to set up their own retirement plan while they are young and working and add to it. ALONE.
A company plan ...generally the company also adds to it the same amount you put in(so you double the size of the savings when retirement comes) You get to play golf in Florida in the winter months and leave the snowy North....or go skiing during the summer or whatever. You have money to do that. Not on SS. You barely make it.
If your company has a retirement plan YOU JUMP IN WITH BOTH FEET. because it is something more than government SS. so way better for you. Those people who are self employed got to set up their own retirement plan while they are young and working and add to it. ALONE.
A company plan ...generally the company also adds to it the same amount you put in(so you double the size of the savings when retirement comes) You get to play golf in Florida in the winter months and leave the snowy North....or go skiing during the summer or whatever. You have money to do that. Not on SS. You barely make it.
2019-08-22 9:00 am
Those programs always have an opt out feature.
2019-08-31 5:02 am
Never heard of forced retirement before.
2019-08-24 10:35 am
There's something you're not being told. I'd worry that
your 'plan' may include risky investments on Wall Street.
your 'plan' may include risky investments on Wall Street.
2019-08-22 4:10 am
they can use that money better like a bank you get a bit they get a lot out of your money the world is askew , the banks were created to serve you, you now serve them and firms are into it too economics has never been so intense they use your pensions to fund stuff Philip Green of England sold BHS stores for a pound and took the pension funds home 500 million and it was fu**ing legal they had to shame him into giving some back not all the tax payer stumps that it went bankrupt ,that is the truth save your own bud
收錄日期: 2021-04-24 07:38:05
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