Best Money Moves

DECEMBER 9, 2024

The average employer matches 6% of an employee’s Traditional 401k and Roth 401k contributions. Additionally, 62% of employees in the survey noted that retirement plans contributed the most to their financial security, which was up from 56% in 2023. These benefits trends will continue going into 2025.

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HR Digest

MARCH 28, 2023

It’s important to note that there are limits to how much an employee can contribute to a 401(k) plan each year. For 2023, the limit is $20,500 for individuals under age 50 and $27,000 for individuals age 50 and over. This allows the money in the account to grow faster than it would in a taxable account.

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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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Empuls

JUNE 21, 2024

mostly provided traditional 401(k), while 68% also offered Roth 401(k) plans.  As of 2023, Exxon Mobil has 61,500 employees, with 62% of the employees reporting that they are happy to go back to work.   73 percent of civilian workers had access to retirement benefits in 2023.

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Vantage Circle

NOVEMBER 23, 2023

Honeywell offers a flexible 401(k) plan, allowing employees to contribute up to 30% of their eligible pay in pre-tax, Roth 401(k), or after-tax contributions. They specialize in creating software, digital products, and industrial IoT solutions. How to Offer?

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