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| *The Commerce Journal>>>Personal Finance |
How do you account for a deifined benefit plan when figuring how much to save for retirement? |
How do you account for a deifined benefit plan when figuring how much to save for retirement? If it's really a defined BENEFIT plan, and not a defined CONTRIBUTION plan, you're ahead of the game. I'd suggest looking at what their current offerings are and approximating how long you likely will have worked for the company by the time you retire. Regardless of benefits, you should aim to save at least 15% of each paycheck for retirement. That should provide you with more than enough funds to retire. |
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