Retirement
What does retirement look like for you? Maybe you plan to travel the world. Or maybe you’d like to take up some hobbies closer to home. Whatever your goal, it’s important to take responsibility for your own finances so you have the income you’ll need in the future.
One of the best ways to ensure a secure retirement is to start saving as early as possible. Benjamin F. Edwards offers you a 401(k) and Profit-Sharing plan. You are immediately 100% invested in both your contributions and the Firm’s contributions.
The plan is offered through Principal. You will be enrolled as soon as administratively possible.
401(k)
To help you build a secure financial future, your 401(k) contributions start automatically upon hire. Under the plan’s provisions, you are enrolled in the plan and 6% of your regular gross pay will be withheld and invested into your account. You can increase, decrease or cancel your contribution at any time.
- You are automatically enrolled upon hire at a 6% contribution.
- The Firm matches 50% of your contribution, up to 2% of your contribution. The chart below shows examples of the match:
| Your Contribution | 0% | 1% | 2% | 10% |
| Firm’s Contribution | 0% | 0.5% | 1% | 1% |
- You can select either pre-tax or Roth contributions to your account.
- Wide range of investment options available to you.
Profit Sharing
Each year, the Firm determines whether to make a discretionary contribution to employees’ accounts based on profitability.
- You do not need to contribute to the 401(k) plan to be eligible for a profit-sharing contribution.
- To be eligible to receive your contribution, you must be an active employee on Dec. 31 and have 1,000 or more hours of service in the plan year.
Deferred Compensation - Advisors Only
Financial Advisors may be eligible to participate in the Deferred Compensation program, based on annual production. Eligible employees are notified of qualifications tiers in January of each plan year.
Review and Update Your Beneficiary
If the unthinkable should happen to you, wouldn’t it be comforting to know your retirement savings are going to your loved ones? Naming a beneficiary for your retirement account helps make sure that happens.
Review and update your beneficiaries for your retirement accounts at www.principal.com/beneficiary today!
Increase Your Retirement Savings with a 401(k)
- Contribute using convenient payroll deductions up to the IRS limit of $23,500 per year.
- Change the amount of your contributions or stop your payroll contributions at any time.
- Decide how to invest your 401(k) or allow the plan to choose for you.
- The 401(k) contribution limit for employees age 50 or older is $31,000 per year.
- The 401(k) contribution limit for employees age 60-63 is $34,750 in 2025 per year.