Workplace Benefits - For Employees

Retirement

Whether you are just starting your career or nearing retirement, consider saving for the years ahead — we're here to help.

Why Plan for Retirement?

​These days, it’s common for retirement to span multiple decades—which means your savings plan needs to be well thought out. Thoughtful planning and early saving can go a long way toward helping you achieve the lifestyle you want in retirement.

Understanding Your Employer-Sponsored Retirement Plan

Depending on where you work, you may have a 401(k) (corporate), 403(b) (non-profit/church/school/church-owned hospital) or 457(b) (government) plan as ways for saving for your retirement. It’s important to understand how these plans can work for you.

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Take Advantage of Your Employer-Sponsored Retirement Benefit

Retirement means something different to everyone. Whether you want to see the world, spend time with family, pursue a new passion or even continue working, it’s a time to focus on the things that mean the most to you. No matter where you are on your retirement journey, one of the easiest ways to save for retirement is to participate in your employer's retirement plan. Here are steps you can consider to help make the most of your retirement plan benefit:
1. Understand Your Employer's Retirement Plan
Explore the retirement plan offered by your employer. Familiarize yourself with contribution limits, employer matches and any additional benefits provided.
2. Optimize Employer Matching Contributions
Some employers may match part of your 401(k)/403(b) contributions. Employer matches are essentially free money that can significantly boost your retirement savings. If you can't contribute enough to qualify for the full match, start where you can and increase your contribution as your compensation/salary increases.
3. Take Advantage of Your Plan’s Benefits
Making traditional contributions to your employer-sponsored retirement plan can not only help you move towards your retirement goals but can also help reduce your current year’s tax liability. Through your plan, you may have access to a diversified fund investment menu. Any potential returns grow on a tax-deferred basis, which may help your account accumulate faster.
4. Diversify Your Investments
Understand the investment options within your employer's retirement plan. Consider diversifying your portfolio by allocating contributions across different asset classes, such as stocks, bonds and mutual funds, to help mitigate risk.
5. Monitor and Adjust Regularly
If you’ve selected your own investment allocation and are not in a target date fund that aligns with your retirement year or a managed account, you may want to consider regularly reviewing and adjusting your investment strategy based on your financial goals and market conditions. Consider discussing this with a Financial Advisor to ensure your portfolio aligns with your retirement objectives.

Support for Your Retirement Journey

Knowing who takes care of what when it comes to your plan can help you know where to go when you need support. 

Morgan Stanley at Work

  1. A Morgan Stanley Financial Advisor can provide education and guidance to help you make the most of your retirement plan benefit by helping you.

  2. Understand how to maximize your company's retirement plan benefit

  3. Review your plan’s fund lineup and your investment strategy 

  4. Plan for your future goals and objectives

  5. Discuss your retirement income needs 

  6. Access financial education and retirement planning resources

Retirement Plan Provider

  1. Your retirement plan provider’s name and contact information can be found on your quarterly retirement plan statement. You can visit their website or contact them to help you obtain plan-specific documents and execute retirement plan transactions, such as:

  2. Changing your deferral amount

  3. Making changes to your investment options or to your investment allocation

  4. Turning on automatic rebalancing and automatic annual increase features, if available

  5. Updating your beneficiary information

  6. Initiating a loan, if available

Post-Employment Retirement Planning

If you’ve recently left your employer, it's important to take proactive steps to manage your retirement plan effectively. Depending on your situation, consider the following.

Explore Your Options

  1. When it comes to your options, you have a choice:  

     

    • Leave your assets in your previous employer's plan, if allowed, or  
    • Cash out and take a lump sum distribution (subject to tax penalties). 
    • Roll it over into your new employer’s qualified plan, if permitted, 
    • Roll your balance over into an individual retirement account (IRA).

     

    If you would like additional support, a Financial Advisor or tax professional can help explain your options in more detail. 

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Understand Vesting and Distribution Rules

  1. Knowing your vesting and distribution requirements allows you to make informed decisions about your retirement savings. While your own contribution balance is always yours, keeping employer contributions often requires that you meet a minimum vesting period.

     

    There may be distribution limitations on your current employer-sponsored retirement plan, as well as potential tax implications and a potential early withdrawal penalty on distributions if you cash out your retirement plan balance prior to age 59 1/2.

     

    Details on your retirement plan provisions, including vesting and distribution requirements, are summarized in your plan's Summary Plan Description (SPD). You may request an SPD from your employer or retirement plan provider

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Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Executive Relationship Managers, Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters. Morgan Stanley at Work services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, all wholly owned subsidiaries of Morgan Stanley.

Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.

Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

When Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors (collectively, “Morgan Stanley”) provide “investment advice” regarding a retirement or welfare benefit plan account, an individual retirement account or a Coverdell education savings account (“Retirement Account”), Morgan Stanley is a “fiduciary” as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and/or the Internal Revenue Code of 1986 (the “Code”), as applicable. When Morgan Stanley provides investment education, takes orders on an unsolicited basis or otherwise does not provide “investment advice”, Morgan Stanley will not be considered a “fiduciary” under ERISA and/or the Code. For more information regarding Morgan Stanley’s role with respect to a Retirement Account, please visit  https://www.morganstanley.com/wealth-disclosures/department-of-labor-notification. Tax laws are complex and subject to change. Morgan Stanley does not provide tax or legal advice. Individuals are encouraged to consult their tax and legal advisors (a) before establishing a Retirement Account, and (b) regarding any potential tax, ERISA and related consequences of any investments or other transactions made with respect to a Retirement Account.

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RO #3486149 (4/2024)

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