Despite current economic difficulties (e.g., state of financial markets, rising food and gasoline prices), now is the time to contribute more to your retirement plan, according to a recent article in the Wall Street Journal (WSJ). This strategy allows for more savings to live off during retirement.

As part of this strategy, the article discusses “buying more shares at lower prices,” though cautioning that “anyone just a few years from retirement shouldn’t pile on market risk, since there isn’t enough time to recover from losses.”

The author of the WSJ article emphasizes the need to focus on the long term. “Trimming retirement contributions puts more money in your pocket, but you’ll have less once you stop working, and you may even have to work longer to make up the difference.” The author advises participants to look for ways to cut spending now, so that spending during retirement isn’t substantially impacted.

By sponsoring a NADART retirement plan, there are many ways we can help you and your participants save for the future. We offer a variety of investment options including Target Dated Funds, which tailor their investment mix and level of risk to a participant’s expected retirement date. In addition, our low plan-related fees leave you and your participants with more money to put aside for retirement.

We also offer access to our online calculators and PlanWeb system for online investing. Members of our Enrollers staff can visit your offices to explain these online options to participants and answer any plan-related questions they may have.

To find out more details about starting a plan with us, you can contact a NADART representative at (800) 462-3278, ext. 7161 or e-mail us at nadart401k@nada.org.