SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Robert A. Imparato, Jr CFP®
CERTIFIED FINANCIAL PLANNER™ professional
Craig A. Hyldahl CFP®
CERTIFIED FINANCIAL PLANNER™ professional
R.I.C.H. Planning Group, LLC
105 Fieldcrest Avenue, Suite #507
Edison, NJ 08837
Robert: 732-326-5240
Craig: 732-326-5240
Fax: 732-326-5331
Robert: robert@richplanninggroup.com
Craig: craig@richplanninggroup.com
Website: www.richplanninggroup.com
September/October 2017
Time for a benefits check
Autumn can be a busy time. Kids are back in school and the holidays are looming. Making employee benefits decisions may be just one more thing piling up on your to-do list. So you might be tempted to take a shortcut by renewing your current benefits without reviewing your options.
That could be a mistake. Open enrollment gives you an opportunity to reexamine your benefit choices and learn about any coverage changes or premium increases for 2018. It also gives you a chance to compare benefits, such as health care, dental, and vision coverage, with those offered by a spouse’s employer and choose the most appropriate and cost-efficient options for your family.
The pretax advantage
Your portion of the cost of some benefits your employer may offer is deducted from your pay before taxes are taken out (pretax). Since a smaller portion of your pay is subject to current taxes, pretax benefits may cost less than you expect.
Health insurance premiums are an example of an expense that you typically pay for with pretax dollars. Your employer may also offer a pretax flexible spending account (FSA) to pay out-of-pocket health care expenses, including doctor visit copays, prescription drugs, and other costs that your insurance doesn’t cover. And you may be able to contribute pretax money to a dependent care FSA to pay for child care for a child younger than 13 while you and your spouse work.
Help with retirement investing
The ability to set aside money for retirement in an employer’s tax-qualified plan is potentially a valuable benefit. Consider revisiting your contribution amount while you’re reviewing your other employee benefits. If you’re not contributing enough to take full advantage of any employer matching funds, think about increasing your deferral amount. As with health and other benefits, plan contributions are deducted from your pay pretax.*
Disability check
Your employer may provide group disability income insurance as one of your benefits. However, if your group policy replaces only a portion of your income, you may need a supplemental policy to be adequately covered. Talk to your financial professional.
*Some retirement plans offer a Roth 401(k) option, which allows participants to make aftertax contributions and, if all requirements are met, take distributions free of federal income taxes.
FINRA Reference FR2017-0427-0092/E 08/02/17
CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Securities offered through Equitable Advisors, LLC (NY,NY (212) 314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN). Investment advisory products and services offered through Equitable Advisors, LLC, an SEC-registered investment advisor. Annuity and insurance products offered through Equitable Network, LLC, which conducts business in California as Equitable Network Insurance Agency of California, LLC; in Utah as Equitable Network Insurance Agency of Utah, LLC; and in PR as Equitable Network of Puerto Rico, Inc. Equitable Advisors and Equitable Network are affiliated companies and do not provide tax or legal advice.
R.I.C.H. Planning Group, LLC is not owned or operated by Equitable Advisors or Equitable Network. Equitable Advisors and Equitable Network are brand names for Equitable Advisors, LLC and Equitable Network, LLC, respectively.
GE-4833845.1 (7/22)(Exp. 7/24)
CFP® and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc.
These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
R.I.C.H. Planning Group, LLC and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.