The Advantages You Can Enjoy From Being a PERA Member in Minnesota
If you are wondering what you can do to save for retirement, you’re probably already familiar with traditional avenues such as IRAs. However, you do have other options, one of those being PERA retirement plans. There are many advantages of enrolling in PERA retirement Minnesota. Here are just a handful of them.
Tax Credits
Every year that you contribute to your plan, you’ll receive a tax credit amounting to 5% of your contributions. This credit can then be used to offset a portion of your tax liability if you so choose. It’s like getting free money from the government simply for saving for your own retirement. It’s a “can’t lose” situation.
Tax-Free
The money that you invest using a PERA account is not subject to tax withholdings such as income tax or capital gains tax. In the event that a PERA account holder passes away, the money goes to their beneficiaries without the burden of having to go through probate court or being subject to estate tax.
The Ability To Choose
When you invest in a PERA Retirement Minnesota, you gain the ability to choose where you want to invest your money. Most young investors choose to invest in more aggressive funds to grow their money more quickly, however, you can choose to place your money at any risk level with which you are comfortable.
