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Below are the top 10 employee benefits certifications for professionals in 2024. Certified 401(k) Professional (C(k)P®) The Certified 401(k) Professional (C(k)P®) credential, offered by The Retirement Advisor University in collaboration with UCLA Anderson School of Management, focuses on the complexities of managing 401(k) plans.
Hobby Lobby’s 2024 pay hike went into effect on October 1, 2024, so employees who apply to the company now should be able to benefit from the change. The arts and crafts supply store recently announced that it has increased the starting wages for its employees again, making this the thirteenth increment since 2009. Data from the U.S.
The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexiblespending accounts. The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. The catch: These funds must be spent by March 15, 2024.
While HSAs combine several of the best features of 401(k)s and flexiblespending accounts (FSAs), they are often overlooked and underutilized. The post WEX celebrates HSA Day 2024 with resources for HR leaders, employees appeared first on WEX Inc. It is not legal, tax, or investment advice.
On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexiblespending arrangements and commuter benefit plans, among other important updates.
The Internal Revenue Service recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2024.
Those enrolled in an HSA or a medical flexiblespending account (FSA) may also be able to enroll in certain types of HRAs. We support flexible plan designs, empowering you to determine your own benefits goals for your participants by letting you set up your HRA to look however you want. Investment potential.
On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75 , which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The following chart summarizes the 2024 limits for benefit plans. The 2023 limits are provided for reference.
The following commonly offered employee benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs); Health flexiblespending accounts (FSAs); 401(k) plans; and. Transportation fringe benefit plans. EEOC Fact Sheet: FAQs on New “Know Your Rights” Poster .
IRS Announces 2024 FSA, Retirement Plan Limits Earlier this month, the Internal Revenue Service (IRS) released cost-of-living adjustments and inflation-adjusted limits for 2024 that affect amounts employees can contribute to health flexiblespending accounts (FSAs), 401(k) plans and individual retirement accounts (IRAs).
Some of the most common pre-tax benefits include: Health savings accounts (HSAs) Flexiblespending accounts (FSAs) Commuter benefits Dependent care FSAs Retirement plan contributions (401(k)) Each of these benefits provides unique tax advantages that can make a big difference at tax time.
Many workers today struggle with saving for retirement, and offering employer-sponsored plans gives them a much-needed head start Ideas: Offer matching contributions to 401(k)s, SEP IRAs, or SIMPLE IRAs to incentivize participation. Provide financial literacy workshops to help employees make informed decisions.
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