HR Digest

MARCH 28, 2023

Here’s how it works: When an employee enrolls in a 401(k) plan, they choose a percentage of their salary to contribute to the plan, up to a certain limit set by the Internal Revenue Service (IRS). The contributions are deducted from the employee’s paycheck before taxes are withheld, which reduces their taxable income.

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Business Management Daily

JANUARY 5, 2023

The last act of the 117th Congress was to pass the Consolidated Appropriations Act, 2023. Act of 2022 —90+ provisions focused on 401(k) and other retirement plans. Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis.

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Best Money Moves

DECEMBER 9, 2024

One method of support employers are providing will come in the form of affordable deductibles. According to the report, 40% of large companies will offer a medical plan with a low or no deductible. The average employer matches 6% of an employee’s Traditional 401k and Roth 401k contributions.

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Vantage Circle

NOVEMBER 23, 2023

Retirement Plans: Such as 401(k) plans with employer matching contributions Retirement plans, especially 401(k) plans with employer matching contributions, are paramount among employee perks in the United States. A 401(k) is a tax-advantaged retirement savings program provided by employers. How to Offer?

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