Retirement benefits, such as a 401(k) or a pension, offer employees a mechanism for savings to be used at a later date when s/he stops working. It is widely accepted that Social Security will not provide sufficient future retirement benefits for most Americans. Offering some means for wealth accumulation other than the typical compensation package is a real attraction and retention tool. There are many legal and tax implications in managing a corporate sponsored retirement plan and it is wise to obtain the services of a knowledgeable and honest broker. Bosses should be very careful discussing retirement with older workers as it can be perceived as age discrimination if some adverse action is taken against said employee at a later date.
- Social Security Benefits (Social Sec Administration).
- How working affects Social Security Benefits, with tips on how to claim benefits (USNews).
- Retirement overview with useful links (Wikipedia).