Taking Full Advantage of Your Workplace Benefits

Workplace benefits are often reviewed with new employees during a whirlwind first week on the job, and retention of all the details may be challenging. A best practice for all employees is to review for benefits periodically, and make sure you understand them and are utilizing them to the fullest degree.

Retirement Plans & IRAs

The most common retirement plan utilized by employers is a 401(k) plan, but there are a wide variety of plans available for employers to choose from, including 403(b) plans, SIMPLE IRAs, SEP IRAs, defined benefit pension plans, and profit-sharing plans based on the size and ownership of your employer.

Your retirement plan is a key workplace benefit, so be sure you fully understand how it operates. If your employer matches any contributions you make from your paycheck, you will want to be sure to take advantage of the company match. Free money is priced right!

If your employer does not offer a retirement plan currently, it may be helpful to know that F&M Trust offers retirement plans for employers, and will help design and administer a plan best suited to your employer.

F&M Trust offers traditional IRAs and Roth IRAs for employees. Investment options may include savings vehicles, money market funds, CDs, mutual funds, and individual securities. Our relationship managers can assist in the selection of a traditional or Roth IRA, and the appropriate investments for each.

Group Life Insurance

Many employers offer group life insurance to employees, at no or minimal costs. In most cases, these benefits supplement but do not replace the need for personally owned life insurance.


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