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Even when participants recognize the value of investing for retirement, they may not be fully aware of how to save more and optimize the benefits of their plan.
5 Steps to Retirement Savings offers easy-to-use strategies participants can adopt to optimize their approach to retirement savings. These steps are:
1. Fund an emergency savings account.
2. Contribute enough to get the 401(k) match.
3. Fully fund a Health Savings Account.
4. Top off the 401(k) up to deferral limits.
5. Max the 401(k) up to annual limits.
Sharing these tips with participants can potentially help them secure better retirement outcomes.
To learn more about the importance of each of these strategies and ways to implement them, download our Summer 2020 edition of Shifting DC Times to read the 5 Steps to Retirement Savings article.
Read our bi-annual publication that provides the latest DC thinking across four essential plan components, with ideas you can turn into action.
Innovating the Way Forward
Discover how International Paper embraces new approaches to keep its defined contribution plan effective. Find it in DC Times, our online publication.
Building on real estate
Discover how real estate can be an effective portfolio diversifier for participants.
Heightening Fiduciary Protection
Learn why offering risk-based investment strategies in a defined contribution plan can benefit both participants and plan sponsors.
The Agility to Adjust
If the times are demanding a tighter DC plan budget, consider these ideas to help lower expenses.
Important Information:
This article is for informational purposes only and is not to be construed as an offer to buy or sell any financial instruments and should not be relied upon as the sole factor in an investment making decision. As with all investments there are associated inherent risks. Please obtain and review all financial material carefully before investing.
Invesco Distributors, Inc., is the US distributor for Invesco's Retail Products and Collective Trust Funds. Invesco Advisers, Inc., provides investment advisory services and does not sell securities. Both are indirect, wholly owned subsidiaries of Invesco Ltd.
