While financial planning in the gig economy looks different than W-2 workers, it is possible and highly encouraged by local experts.
You’re still better off leaving retirement funds alone for retirement. If you can’t, though, you could at least limit the damage from taking the money out early.
In Maryland, employers and employees can both benefit from Maryland Saves, a workplace savings program sponsored by the state’s Small Business Retirement Savings Program. The state’s program is the fifth in the nation offering a retirement savings plan to employers of all sizes that do not currently offer one to employees. Nearly one million private sector employees in the state do not have ac[...]
ANNAPOLIS — Legislation to require businesses to offer retirement plans to employees or push them into a state-managed plan will not be as wide-sweeping as once thought. Sen. Douglas J.J. Peters, D-Prince George’s County, said questions about how new federal regulations may affect the proposal have raised strong concerns about whether the state could become […]
ANNAPOLIS — Members of a legislative task force on mandated retirement plans for businesses in Maryland are considering new proposals that could offer tax incentives or impose financial penalties to prod employers to offer approved plans to workers. The options under consideration by the Maryland Commission on Retirement Security Savings are the latest attempt by […]
ANNAPOLIS — A legislative task force is looking at potential legislation that would create a system of retirement plans for employees of small businesses. The idea is not new, but legislators now hope that expected changes in federal regulations will open the door to creating a plan, possibly a multiple-employer 401(k) style plan or state-managed […]