When it comes to choosing a retirement plan, researching your options is a must, but sometimes sifting through pages and pages of government data can be more of a hassle than its worth. It's important to know what each plan has to offer, but it can be hard to find easy to understand info explaining each of your options. What’s the difference between a 401(k) and a 457(b)? What plan has the highest maximum employee contribution? (What does maximum employee contribution even mean?) While finding the answer to these kinds of questions is usually a daunting, complex process, there is a new retirement plan comparison that provides a comprehensive, easy to use way to research and compare the different retirement plans.
The comparison, provided by FindTheData, allows you to search and compare your options by max. employee contributions, employer contributions, age 50+ catch-up contributions, and much more, simplifying the process of learning about what your options are when it comes to choosing which retirement plan is best for you.
Moreover, the retirement plan guide provided with the comparison tool helps to not only understand what each plan does or does not provide, but also what everything means, which at times can be the most important piece of information you need. FindTheData’s guide will help understand what it means if a plan includes an IRA, a profit-sharing plan, a defined benefit plan, and more.
Next time you’re researching the different retirement options, don’t get stressed out about the seemingly endless amount of data out there. Check out this easy to use resource to get straight to the cold hard facts on each plan. Once you’ve narrowed your options down, you can even compare your top choices in a side-by-side format that helps really get down to the details of what each plan has to offer.
Choosing a retirement plan is a huge decision, but it doesn’t have to be as difficult as it may seem. Take your time when choosing a plan, as you’ll most likely be sticking with it for quite some time. Research your options, consider the benefits of each, and go and decide which plan is best for you!