The article highlights the need for regular monitoring of retirement savings to ensure a comfortable retirement. It recommends using online accounts to track contributions and make necessary changes. It also emphasizes updating beneficiary information, especially after major life events like marital status changes.
The article also points out the importance of checking service credit totals, especially after periods of absence due to health issues. It notes that service credit repayment may have deadlines based on the type of absence, and delays could result in extra costs.
The article talks about the Deferred Compensation Program (DCP), suggesting that individuals can modify their savings or stop contributing via their online accounts. It indicates that managing DCP savings flexibly can aid in retirement planning.
The article mentions that the IRS has raised the retirement savings contribution limits for the year, urging individuals to increase their contributions for a better retirement. It gives details on yearly contribution limits based on age and plan type.