smart spending

How to make the most of employee benefits

Retirement plans
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Don't miss out on a match. If your company offers a 401(k) or 403(b) retirement plan, ask whether the employer will match the money you save.

Having a portion of your salary withheld from each paycheck and deposited into a tax-deferred retirement savings account is generally a good idea even without an employer match. But if your company matches the money you save, it's like free money.

"This is the biggest mistake I see people make," says Sarah Westmoreland, finance associate at a California independent school. "They somehow think joining the 403(b) is costing them money, when it's actually getting them more."


 

 

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