Medical insurance is top of mind for many of us these days. Besides the controversy surrounding implementation of the new health care law, we're also in the thick of open enrollment season. That's when millions of workers get the chance to review and potentially switch their benefits. While health care typically gets much of the attention, focusing on retirement benefits can be just as important. Taking the time to give your 401(k) an annual check-up now, while benefits are top-of-mind, can help put you on course for a healthier retirement. As I like to say: Set it, but don't forget it!
Here are some important things to remember:
- Contributing is great, but contributing enough matters even more. Make sure you are contributing at least enough to get the full employer match. Try to boost your contribution level by one percent (or more if you can) whenever you get a raise.
Including your 401(k) plan in your annual benefits review can help get your retirement in good shape for the future.
Schwab Retirement Plan Services, Inc., Schwab Retirement Plan Services Company, and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products and services are offered by Charles Schwab & Co., Inc. (Member SIPC). Schwab Retirement Plan Services, Inc. and Schwab Retirement Plan Services Company provide recordkeeping and related services with respect to retirement plans. (1113-7754)
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