Connecticut (CT) Non-Profit Annual Giving Program & Gift Endowment

How to Take Full Advantage of Your Retirement Plans

Have you considered including Connecticut Community Care, Inc. as a beneficiary of your retirement plan? Because retirement assets are heavily taxed when left to loved ones, they make an excellent charitable gift after your lifetime to tax-exempt organizations like ours. It's easy to do—just list us on the beneficiary designation form for a percentage (0-100) of your account.

Before you consider a gift of your retirement plan to us, however, you must know how to wisely build up your plan so you can live comfortably during retirement.

3 Questions to Ask Your Employer
One of the most popular forms of retirement plans is the 401(k), where employers can match a portion of your contribution. To get the most out of your company's 401(k) plan, make sure you know the answers to these three questions:

How long must I be employed before making contributions to a 401(k) and receiving the company match?
What is the maximum salary match the company will contribute?
Is there a vesting schedule that applies to the company match?

Don't Lose Out
Unfortunately, one of the biggest financial mistakes that employees make is not taking full advantage of their company's 401(k) plan match. So to ensure that you don't lose out on the "free money" offered by your employer, make sure you contribute enough to qualify for the full company match.

How Much You Need to Contribute for a Full Match
Employer Offering	Maximum Employer Contribution	Your Contribution
50% for every dollar up to 10%	5%	10%
Dollar for dollar up to 5%	5%	5%
Dollar for dollar for the first 3% and 50% on the dollar for the next 4%	5%	7%

Please contact Patricia A. Morgan at 860-589-6226, Ext. 5176 or patm@ctcommunitycare.org to learn more about the benefits of using your retirement plan to support our mission.

The information on this website is not intended as legal or tax advice. For legal or tax advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.

Dad and I appreciate the services and support you have provided to us. Quite frankly, I don’t know what we would have done without your program. It hasn’t been easy for either of us as we go about this new stage in our lives, but his being at home means so much to both of us. I cannot express the huge comfort their help brings in my knowing that they are there whenever they can be while I must be at work. Dad celebrated his 89th birthday in May—in the comfort of his own home—thanks to the daily care of the competent, caring and compassionate folks that you have arranged to help us. We both will always be totally grateful for this to you and CCCI.

— PM, Southbury, CT
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