Benefits Notes

AUGUST 29, 2023

Act of 2022 (“SECURE 2.0”) required that effective as of January 1, 2024 , participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and whose Social Security wages for the previous year exceed $145,000 (indexed), only be permitted to make catch-up contributions under such plans on a Roth (after-tax) basis.

401(k) 52

401(k) Retirement Plan Executive Compensation Taxes 52

Empuls

SEPTEMBER 20, 2024

Deferred Profit-sharing Plan: The withdrawal time is set for later, often combined with a 401(k) plan, making it non-taxable at the end of the term. This approach led to a steady growth in WPL’s profit-sharing pool, which reached over $150,000 in September 2023, with expectations of hitting $200,000 by year-end.

Employee Incentives 52

Employee Incentives Profit Sharing Plan Bonuses Salary 52

Proskauer's Employee Benefits & Executive Compensa

MARCH 23, 2023

Although these final rules generally became effective on January 30, 2023, they are currently being challenged both in the courts and in Congress. Listen to the podcast Tanusha Yarlagadda: Hello and welcome to The Proskauer Benefits Brief: Legal Insights on Employee Benefits and Executive Compensation. Ira Bogner: Sure.

401(k) 104

401(k) Executive Compensation Government Management 104