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93% of employees say retirement benefits influence whether they'll take a job. How to design a competitive plan

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The article from Fortune discusses the importance of retirement planning and the various options available to employees, focusing on Individual Retirement Accounts (IRAs) and 401(k) plans. It explains that a 401(k) is an employer-sponsored plan that allows employees to save and invest a portion of their paycheck before taxes, often with employer matching contributions, which can significantly boost retirement savings. On the other hand, IRAs are personal retirement accounts that offer tax advantages and can be opened by anyone with earned income, with options like Traditional IRAs offering tax deductions on contributions and Roth IRAs providing tax-free withdrawals in retirement. The article emphasizes the need to start saving early, understand the differences between these accounts, and take advantage of employer matches and tax benefits to maximize retirement funds. It also suggests consulting with a financial advisor to tailor a retirement strategy that fits individual needs and goals.

Read the Full Fortune Article at:
[ https://fortune.com/article/employee-retirement-plan-ira-401k/ ]

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