International Foundation of Employee Benefit Plans
AUGUST 1, 2024
According to The Multiemployer Retirement Plan Landscape: A 15-Year Look (2006-2020), the average defined contribution (DC) plan account balance increased from $23,400 at the end of 2006 to $54,100 at the end of 2020, while aggregate disbursements also grew.
Proskauer's Employee Benefits & Executive Compensa
DECEMBER 12, 2022
Department of Labor (the “DOL”) proposed changes to its Voluntary Fiduciary Correction Program (the “VFCP”) in November for the first time since 2006. The most significant change is the addition of a self-correction option for delinquent deposits of participant contributions and loan repayments.
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HR Professionals Magazine
SEPTEMBER 2, 2021
As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide. At its most basic level, a 401(k) plan allows employees to save for their personal retirement needs.
Abel HR
DECEMBER 7, 2020
The act is now the most extensive reform to impact the economy since the Pension Protection Act of 2006. It allows long-term, part-time workers to take part in 401(k) plans. You are no longer required to withdraw assets from IRAs and 401(k)s at age 70½. A Few Key Takeaways.
Abel HR
DECEMBER 7, 2020
The act is now the most extensive reform to impact the economy since the Pension Protection Act of 2006. It allows long-term, part-time workers to take part in 401(k) plans. You are no longer required to withdraw assets from IRAs and 401(k)s at age 70½. A Few Key Takeaways.
Griffin Benefits
JUNE 29, 2023
contains dozens of changes to retirement plans, but perhaps none bigger than these two: New 401(k) and 403(b) plans will be required to automatically enroll participants in the respective plans, and employee salary deferral rates will automatically escalate each year. The SECURE Act 2.0 SECURE ACT 2.0
Corporate Synergies
AUGUST 6, 2018
Treat the HSA More Like a 401(k) than an FSA. million accounts in 2006 to over 22 million at the end of 2017. The opportunity to set aside pre-tax money for expenses in the future is an area where the HSAs and retirement plans, like 401(k) and 403(b), start to blend together in an employee’s retirement savings strategy.
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