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PDC 30, January 2, 2019: PDC 30 is excited to launch the new Retirement Savings Plan (PDC 30 RSP). A multi-page brochure (that looks like a cell phone conversation) was recently sent to all PDC 30 members and offers a very basic explanation of the plan. What follows below is a list of questions and answers that provide more details about characteristics and features of the PDC 30 RSP and 401(k) type plans generally. Stay tuned for more material on the new RSP during the month of January.
What is the RSP?
The PDC 30 Retirement Savings Plan, or “RSP,” is a new 401(k) retirement plan for the members of PDC 30. “401(k)” is a reference to a subsection of the Internal Revenue Code that allows for the pre-tax withholding of a defined amount of money from your gross pay (before taxes are withheld), which is then stored in a retirement plan account in your name. You decide, based upon your personal financial circumstances and retirement funding goals, how much to withhold from your paycheck.