05/11/2011
Last week, the Labor Department reported that employers added more than 200,000 jobs during April. While the overall report was mixed, the addition of new jobs across a variety of industries is welcome news to Americans who faced a job loss during the recession and have not yet returned to work.
 
A layoff typically results in both the loss of steady income and the suspension of contributions to a retirement plan. Once people return to work, the importance of resuming a retirement savings regimen can not be overemphasized.
 
Ameriprise financial advisors are available to discuss the important steps people should take when they return to work after an extended layoff. These include such thing as:
- Reviewing the retirement savings options available through their new employer and taking advantage of any employer match opportunities as soon as possible
- Determining if they should rollover their previous 401(k) or 403(b) into an individual retirement account
 - Evaluating their ability to make catch-up contributions to their workplace plan or an individual IRA
 - Ensuring that their retirement portfolio is properly diversified – from a product, time and tax perspective