HR Digest

MARCH 28, 2023

It allows employees to save a portion of their pre-tax income for retirement. How does 401(k) work? 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).

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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

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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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

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.

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