Vermont Supplemental Retirement Plan

State:
Multi-State
Control #:
US-CC-21-104
Format:
Word; 
Rich Text
Instant download

Description

21-104 21-104 . . . Supplemental Executive Retirement Plan which permits eligible management and highly-compensated employees to receive benefits that will compensate them for limitations imposed by Sections 401(a)(17), 401(k), 401(m) and 402(g) of Internal Revenue Code on salary deferrals and matching contributions under 401(k) plan
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FAQ

Vermont. Vermont comes in sixth on our list of best states to retire to due to having the third-best crime score and fifth-best healthcare score. That, along with a slightly-above-average quality of life, is enough to make up for cold temperatures, a high cost of living, and an expensive tax environment.

Benefits will depend heavily on what your state allows. ing to the National Council on Teacher Quality (NCTQ), if you leave before meeting your plan's ?vesting? requirements (see next question below), you'll typically get back only your pension contribution and a small amount of interest in most states.

Vermont. Vermont comes in sixth on our list of best states to retire to due to having the third-best crime score and fifth-best healthcare score. That, along with a slightly-above-average quality of life, is enough to make up for cold temperatures, a high cost of living, and an expensive tax environment.

Your actual retirement benefit is determined by a formula which contains three aspects: your service credit, your age at retirement, and your average final compensation. You will be vested in the Vermont State Employees Retirement System when you have attained five years of creditable state service.

What is the Retirement Health Savings Plan? The Vermont Municipal Employees' Retirement System (VMERS) VantageCare Retirement Health Savings (RHS) Plan is an employer-sponsored health benefit savings plan that allows you to accumulate assets to pay for medical expenses for you and your spouse in retirement.

Group C #1 teachers can retire with full benefits at age 62 or when they reach 30 years of service. Group C #2 teachers can retire will full benefits when they reach age 65 or when their age and years of service add up to 90.

01The five best states for new teachers to enroll in a retirement plan are South Carolina, Tennessee, South Dakota, Oregon, and Michigan.

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Vermont Supplemental Retirement Plan