You have finally landed your dream job working for the state. You now have a decent salary, benefits, and a retirement plan. In fact, you may have 2 or 3 different options and supplemental retirement plans. You may have a 401K or Roth IRA plan. Each of these plans have page after page of information, fine print, and stipulations. Your employer will send you thick, informative books on each of these plans. It ends up costing several dollars to mail and takes up space in your filing cabinet. You may never spend the time to look over every page and all of your options.
This can end up hurting you in the long run. If you never look through the paper work, you may never be aware of the exact amount you are contributing compared to what your employer is contributing. You may not be aware of the fees that are associated with an early withdrawal from a 401K account. You may never know that your Roth plan allows you to withdraw up to $10,000 for a first time home purchase.
All of the information in the books is very important to your financial future. However, you just don’t have the time to sort through the pages. But what if your retirement companies, such as Prudential, offered you the information in another way?
Perhaps all of the information about the retirement plan could be placed onto CFgear bulk flash drives to be given to all employees. It could include tabs for each type of retirement plan and under each section would be detailed descriptions and information. The facts, requirements, and stipulations would now be clearly displayed in an organized manner.
There could even be a section designated for common FAQS. It may highlight some of the most important and need to know information. You could simply read this and know what topics you would like to read more information about. If you can’t make time to read all of the information, a FAQS section would definitely benefit you.
Often times the questions that you have are also the same questions that many other people have also had. Perhaps there could be a Q&A section. There would be questions that are commonly asked along with the correct answers given. If you still have further questions, there could be a link to an e-mail address or contact number for customer service.
Although you may groan at the idea of reading about a 401K, it is very important for the future of your finances and retirement plans. Companies that organize the information into an easily accessible flash drive will see more employees taking advantage of plans in which their employer matches what they contribute. There will also be less questions directed to employers about their retirement plans. All of the information that they need would be conveniently located on a flash drive.
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