McDermott Will & Emery Employee Benefits

FEBRUARY 2, 2024

Act require employers to offer employees who work at least 500 hours within three (reduced to two beginning January 1, 2025) consecutive 12-month periods an opportunity to make elective deferrals to their 401(k) and, beginning in 2025, their 403(b) plans. Together, the SECURE Act and the SECURE 2.0

401(k) 104

401(k) Employee Benefits Employment Retirement Plan 104

Money Talk

APRIL 14, 2022

Tax-Deferred Investing - One way to avoid a higher tax bracket is to increase tax-deductible contributions to an employer retirement plan (e.g., 401(k), 403(b), 457, TSP). 2022, 2023, 2024, and 2025). Contributions are subtracted from gross income, which reduces adjusted gross income (AGI) and taxable income.

Taxes 189

Taxes Family and Medical Leave Act 401(k) Deductible 189

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

Act of 2022 (“SECURE 2.0”) was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act, and included a myriad of required and optional plan design changes for retirement plan sponsors and employers (described in more detail here ). Automatic Enrollment Provision Applied to Multiemployer Plans.

401(k) 98

401(k) Retirement Plan Education Finance 98

McDermott Will & Emery Employee Benefits

JANUARY 25, 2024

Act, employers must provide long-term, part-time employees the opportunity to make elective deferrals under their 401(k) plans and, beginning in 2025, their 403(b) plans. Under the SECURE Act and the SECURE 2.0

401(k) 105

401(k) Employee Benefits Employment Retirement Plan 105

McDermott Will & Emery Employee Benefits

JANUARY 30, 2024

Act, employers must provide long-term, part-time employees the opportunity to make elective deferrals under their 401(k) plans and, beginning in 2025, their 403(b) plans. Under the SECURE Act and SECURE 2.0

401(k) 105

401(k) Employee Benefits Employment Retirement Plan 105

McDermott Will & Emery Employee Benefits

FEBRUARY 15, 2024

Under the SECURE Act and the SECURE 2.0

401(k) 104

401(k) Employee Benefits Employment Retirement Plan 104

McDermott Will & Emery Employee Benefits

FEBRUARY 8, 2024

Under the SECURE Act and the SECURE 2.0

401(k) 104

401(k) IT Employee Benefits Employment 104

McDermott Will & Emery Employee Benefits

FEBRUARY 13, 2024

Act, employers must provide long-term, part-time employees the opportunity to make elective deferrals under their 401(k) plans and, beginning in 2025, their 403(b) plans. Under the SECURE Act and the SECURE 2.0

401(k) 98

401(k) Employee Benefits Employment Retirement Plan 98

WEX Inc.

NOVEMBER 21, 2024

When it comes to 2025 employee benefits trends , many companies are seeking innovative solutions to meet the changing needs of their workforce. Retirement savings With retirement top-of-mind for many, companies are increasing their focus on retirement savings options.

Employee Benefits 59

Employee Benefits 401(k) Employment Health Savings Account 59

Business Management Daily

JANUARY 5, 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. Auto-enrollment plans. 401(k) plans established after Dec.

401(k) 52

401(k) roth 401(k) Taxes Deductible 52

Best Money Moves

DECEMBER 9, 2024

Compared to years prior, employees are more interested in retirement benefits and paid leave opportunities. Here are the most important benefits your company needs in 2025. Inclusive health benefits are still widely sought after Medical costs continue to be a major concern for employees going into 2025.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 52

HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide.

Retirement Plan 52

Retirement Plan roth 401(k) 401(k) Taxes 52

InterWest Insurance Services

DECEMBER 20, 2022

SB 1126 will require any person or entity with at least one employee to either provide them with access to a retirement program like a 401(k) plan or enroll them in the state-run CalSavers program. Also, since July 2022, the CalSaver’s law has applied to employers with five or more workers.

401(k) 98

401(k) Paid Sick Leave Retirement Plan Workers’ Compensation 98

Employee Benefit News

DECEMBER 20, 2023

A new rule will allow long-term, part-time employees to contribute to retirement plans by 2025.

Retirement Plan 119

Retirement Plan 401(k) 119

McDermott Will & Emery Employee Benefits

DECEMBER 12, 2024

With the 2025 plan year right around the corner, this is the ideal time for plan sponsors to ensure that plan operations comply with evolving legislative and regulatory requirements. This client alert highlights important regulatory changes that will impact retirement plans and health and welfare plans in the coming year.

Health and Welfare 52

Health and Welfare Retirement Plan Employee Benefits 401(k) 52

Business Management Daily

AUGUST 30, 2023

The law is nothing short of a detailed overhaul of employer retirement savings plans. Sutton of Strategic Retirement Partners (aka “The 401k Lady”) said the new rules came out before employers and the industry were ready. brings to your retirement plans in 2023. since it was signed at the end of 2022.

Retirement Plan 52

Retirement Plan 401(k) Taxes Utilities 52

Benefits Notes

DECEMBER 28, 2022

Congress made several changes to retirement plans as part of the Consolidated Appropriations Act of 2023 , which recently passed both the House and Senate. The final bill contains several provisions affecting retirement plans under Division T of the bill titled “Secure 2.0 Act of 2022.” Increase in Cash-out Limit.

401(k) 52

401(k) Retirement Plan Taxes Salary 52

Snell & Wilmer Benefits

SEPTEMBER 29, 2022

1126”) into law, amending California’s CalSavers Retirement Savings Program (“CalSavers”). In general terms, CalSavers automatically enrolls eligible California employees in ROTH Individual Retirement Accounts if their employer does not provide a qualified retirement plan. 1126 calls for compliance by December 31, 2025.

401(k) 52

401(k) Retirement Plan Employment Employee Benefits 52

Snell & Wilmer Benefits

MAY 31, 2024

s increased catch-up contribution limits set to take effect next year, it’s time for 401(k) plan sponsors to brush up on the rules and consider how to administer the changes. Under the current rules, 401(k) plans may allow participants to make catch-up contributions when they are age 50 or older.

401(k) 52

401(k) Payroll Taxes Employee Benefits 52

Griffin Benefits

JUNE 29, 2023

contains dozens of changes to retirement plans, but perhaps none bigger than these two: New 401(k) and 403(b) plans will be required to automatically enroll participants in the respective plans, and employee salary deferral rates will automatically escalate each year. The SECURE Act 2.0

401(k) 52

401(k) Retirement Plan Salary Take Home Pay 52

Snell & Wilmer Benefits

SEPTEMBER 30, 2022

1126”) into law, amending California’s CalSavers Retirement Savings Program (“CalSavers”). In general terms, CalSavers automatically enrolls eligible California employees in ROTH Individual Retirement Accounts if their employer does not provide a qualified retirement plan. 1126 calls for compliance by December 31, 2025.

401(k) 40

401(k) Retirement Plan Employment Employee Benefits 40

Empuls

JUNE 21, 2024

  A thoughtfully crafted retirement plan can positively impact employee morale.      Increase the productivity of employees nearing retirement.    A handsomely distributed retirement plan increases job satisfaction. Let's quantify the significance of retirement rewards. 

401(k) 40

401(k) Retirement Plan Pension roth 401(k) 40

Higginbotham

SEPTEMBER 9, 2024

Under current law, this option is set to expire on December 31, 2025, although it may be extended past then. This provision is designed to help employees who are unable to save for retirement because they have too much student loan debt. This option is fairly new; it has only been available since March 27, 2020.

Employment 52

Employment 401(k) Taxes Education 52

Higginbotham

NOVEMBER 2, 2023

Department of Labor explains that the Employee Retirement Income Security Act (ERISA) covers two main types of retirement plans: defined benefit plans and defined contribution plans. Defined benefit plans promise a specified monthly benefit at retirement.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52

Vantage Circle

SEPTEMBER 26, 2021

Companies do this by providing employees with a stake in the company's stock as well as a retirement plan to ensure they have enough money later on in life. In the "appreciation only" method, in January 2025, Albert will receive the appreciated amount per share. Are phantom stock plans subject to Erisa?

Employee Stock Option 52

Employee Stock Option 401(k) Taxes Bonuses 52

Vantage Circle

NOVEMBER 23, 2023

These incentives span a wide array, from health benefits and retirement plans to flexible work arrangements, financial bonuses, and professional development opportunities. Paid parental leave, support for fertility-related expenses, and assistance with adoption or surrogacy costs are also part of the benefitws plan.

Family and Medical Leave Act 64

Family and Medical Leave Act 401(k) Retirement Plan roth 401(k) 64

Higginbotham

NOVEMBER 15, 2023

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 flexible spending accounts (FSAs), 401(k) plans and individual retirement accounts (IRAs).

401(k) 52

401(k) Retirement Plan Flexible Spending Account Insurance 52

International Foundation of Employee Benefit Plans

NOVEMBER 19, 2024

encompasses several changes affecting retirement plans that go into effect over the next few years. aims to make it easier for employers to offer retirement plans and help employees plan for the […] The post SECURE 2.0 Act: What’s Coming in 2025? The SECURE 2.0 Act of 2022 (SECURE 2.0)

Retirement Plan 84

Retirement Plan 401(k) Employment Employee Benefits 84