You might be hesitant to increase your retirement plan contribution because you don't want to reduce your take-home pay. But the power of tax-deferral means the impact to your paycheck isn't as much as you think.
If you earn $30,000 per year and you increase your plan deferral from 4% to 5%, your contributions would increase by $300 per year, but your annual take-home pay would only decrease by $255!
Retirement plans from American United Life Insurance Company® (AUL) are funded by an AUL group annuity contract. While a participant in an annuity contract may benefit from additional investment and annuity related benefits under the annuity contract, any tax deferral is provided by the plan and not the annuity contract.•Group annuity products are issued by American United Life Insurance Company® (AUL) and registered variable annuity products are distributed by OneAmerica Securities, Inc., Member FINRA, SIPC, a Registered Investment Advisor, One American Square, Indianapolis, IN 46282, 1-877-285-3863. • Variable products are sold by prospectus. Both the product prospectus and underlying fund prospectuses can be obtained from your investment professional or by writing to One American Square, Indianapolis, IN 46282, 1-800-249-6269. Before investing, carefully consider the fund’s investment objectives, risks, charges and expenses. The product prospectus and underlying fund prospectus contain this and other important information. Read the prospectuses carefully before investing. •Investing involves risk which includes potential loss of principal.