Benefit 'open Enrollment’ Periods Allow For Review, Adjustment Of Retirement Plans.

If you work for a medium-to-large company, you may now be entering the “open enrollment” period, that time of year when you get to make changes to your employee benefits. Take a close look at your 401(k) or similar plan, such as a 403(b), if you work for a school or a nonprofit group, or a 457(b), if you work for a state or local government. If your salary has gone up over the past year, or if you just think you have a reasonable “cushion” in your disposable income, boost your contributions to your employer-sponsored retirement plan. Try to take full advantage of your employer’s matching contribution, if one is offered. Try to spread your money around a variety of investments within your plan, with the exact percentages of each investment depending on your goals, risk tolerance and time horizon.