Woodgrain HR - Benefits Portal
  • Home
  • Health
    • Nationwide
    • IOWA
    • IDAHO
    • Cigna Dental
    • VSP Vision
    • Pharmacy Care
    • Spending Accounts
    • Telemedicine
    • Supp. Accident/Hospital
  • Life & Disabilty
    • Employer Paid AD&D
    • Employer Paid Life
    • Employee paid life
  • Financial
    • 401(k) Vanguard
    • Education Assistance
    • Scholarship Awards
    • Community Service
  • Employee Benefits
    • Life (EAP) Assistance Program
    • Paid time off
    • Plan Contact
  • More
    • Woodgrain Values
  • Required Notices

401(k) Training

Retirement Saving 101


​What is a 401(k) and how does it work? These short lessons below, provided by Vanguard, will help you to better understand when to start saving for retirement, the benefit of an employer match, as well as how to best budget for retirement and more. 
Picture
Why Should I Join?

​
​A retirement plan can help make saving money easier. ​Financial security, tax breaks and employer contributions are some of the thing you should consider. 



Learn More
Picture
Does Employer Match Make a Difference?

​Woodgrain's 401(k) plan is a 6-3 plan. That means Woodgrain will contribute $0.50 for every dollar you save up to 6% of your pay.  Is that good?  It's an incredible return on investment you can't get anywhere else! Missing out on the match could be a huge mistake.
Learn More
Picture
How Can I Afford
To Retire?


When you retire, you're able to live on less. Two major reasons for this are that (1) you're no longer saving for retirement, and (2) you're no longer paying payroll taxes. But, how much do you need?
​
Learn More

Picture

​Investing Basics
​
What are ​Mutual Funds, Stocks, and Bonds? How do I choose an investment wisely? 
Learn More
Picture
Saving Cut My Taxes
​
​
Pre-tax contributions let you save now and pay later. You will owe less taxes as you save. 
​

Learn More
Picture
Roth 401(k)

When you make Roth contributions, you pay taxes now.  But when you retire you won't owe federal tax on your contributions or on their earnings!
Learn More

How much should I be saving?

Saving For Retirement - Think 15%

​It's important for you to be ready for retirement. A savings target of 15% of your annual salary will help you be ready for the future. When you take advantage of Woodgrain's contribution in addition to your own savings, this is a very achievable goal. 


You don't have to make it to 15% all at once. By increasing your contribution amount as little as one 1% each year, you'll be there before you know it.
Picture
​This lesson by Vanguard explains how much you should be setting aside for retirement.  It includes suggestions on how to "perk up" your savings rate by small amounts that make a BIG difference. 
Learn More

What about Catch-Up Contributions?

​For those employees who have reached the age of 50, or will reach 50 this calendar year, you are eligible to do a catch-up contribution into your 401(k). Catch-up contributions allow you to make an additional pretax contribution to your 401(k) plan, on top of your regular pretax contribution limit. For those employees who have maxed out with their yearly 401(k) contributions and have reached age 50, please talk to your local HR Representative about potentially contributing more. ​
Picture

Can Catch-up Contributions Help?
​
​Got off to a slow start saving for retirement? Learn how to catch up.
Learn More
Picture
Plan Things Out
​
​

How do I turn savings into income?

​​
Learn More
Picture

Key Dates​
​

Important milestones on your path to retirement.​
Learn More

About Us
www.woodgrain.com


Link
mytools.woodgrain.com

Questions?
Plan Contact


Copyright © 2015
  • Home
  • Health
    • Nationwide
    • IOWA
    • IDAHO
    • Cigna Dental
    • VSP Vision
    • Pharmacy Care
    • Spending Accounts
    • Telemedicine
    • Supp. Accident/Hospital
  • Life & Disabilty
    • Employer Paid AD&D
    • Employer Paid Life
    • Employee paid life
  • Financial
    • 401(k) Vanguard
    • Education Assistance
    • Scholarship Awards
    • Community Service
  • Employee Benefits
    • Life (EAP) Assistance Program
    • Paid time off
    • Plan Contact
  • More
    • Woodgrain Values
  • Required Notices