WEX Inc.

NOVEMBER 14, 2024

Health savings accounts have a triple-tax advantage, meaning distributions for qualified medical expenses and investment returns are tax-free, and contributions are tax-deductible. You won’t need to pay Social Security or Medicare tax on the funds going into the FSA. It is not legal or tax advice.

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

Business Management Daily

SEPTEMBER 1, 2023

The saga of 401(k) catch-up contributions under SECURE 2.0 Beginning with catch-up contributions to be made next year, employees whose Social Security wages (W-2, Box 3 wages) exceed $145,000 this year can make catch-up contributions on a Roth, after-tax basis only. is well known.

401(k) 97

401(k) Taxes Payroll Software Payroll 97

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. 401(k) plans established after Dec. which was enacted in 2019.

401(k) 52

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

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. Beyond the traditional 401(k) match , some employers are introducing student loan repayment matching , helping employees reduce debt while saving for retirement.

Employee Benefits 59

Employee Benefits 401(k) Employment Health Savings Account 59

Best Money Moves

DECEMBER 9, 2024

Here are the most important benefits your company needs in 2025. According to Mercers Survey on health & benefit strategies for 2025 , almost 70% of surveyed companies are or are planning to offer financial wellness programs in their benefits package next year. These benefits trends will continue going into 2025.

roth 401(k) 52

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

Flimp Communications

DECEMBER 19, 2024

Will the global economy enter a recession in 2025, or are we out of the woods? Nearly two-thirds of Americans do not think their personal financial situations will improve in 2025. The post The Importance of Teaching Financial Wellness in 2025 appeared first on Flimp. Is the economy good or bad? Its great for your organization.

401(k) 52

401(k) Financial Counseling Finance Education 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. With SECURE 2.0’s

401(k) 52

401(k) Payroll Taxes Employee Benefits 52

Benefits Notes

DECEMBER 28, 2022

This increase is adjusted for inflation after 2025. Catch-up contributions will now be subject to Roth after-tax treatment for those earning more than $145,000 in the prior year. Effective for distributions made after December 31, 2023, the 10% tax on early distributions does not apply for distributions for domestic abuse survivors.

401(k) 52

401(k) Retirement Plan Taxes Salary 52

HR Professionals Magazine

SEPTEMBER 2, 2021

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. At its most basic level, a 401(k) plan allows employees to save for their personal retirement needs.

Retirement Plan 52

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

Business Management Daily

SEPTEMBER 17, 2021

The budget reconciliation bill Congress is currently considering is a key piece of legislation and will affect your payroll and benefits administration , as well as your corporate tax rate and your appetite for tax risk. Stricter tax enforcement is one of the ways those who drafted the legislation hope to pay for its costly provisions.

Payroll 52

Payroll 401(k) Taxes Employment 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

Business Management Daily

AUGUST 30, 2023

Sutton of Strategic Retirement Partners (aka “The 401k Lady”) said the new rules came out before employers and the industry were ready. Unlike traditional 401ks, Roths are not tax-deferred. With Roth accounts, employees pay taxes on their retirement contributions in their regular paycheck. Sutton’s reasoning … tax math.

Retirement Plan 52

Retirement Plan 401(k) Taxes Utilities 52

Qandle

AUGUST 26, 2022

percent between 2017 and 2025, according to market research. Wage and benefit calculations and tax filings may be done mechanically. Facilitated fiscal administration: One of the most time-consuming tasks for human resources workers is tax management. Core HR software is expected to grow by 9.4 What makes Gusto HR special?

Software 86

Software 401(k) Human Resources Payroll 86

Higginbotham

SEPTEMBER 9, 2024

Under Section 127 of the Internal Revenue Code , employers can offer education assistance programs with tax advantages. Employers can offer up to $5,250 per employee per year, and this amount will be excluded from the employee’s gross income and therefore not subject to taxes. The Secure Act 2.0.

Employment 52

Employment 401(k) Taxes Education 52

Business Management Daily

JANUARY 5, 2021

The law also extends expiring tax provisions and everything that could be jammed into 5,593 pages of federal legislation three days before Christmas. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave. Extensions of popular payroll tax provisions.

Family and Medical Leave Act 52

Family and Medical Leave Act Payroll 401(k) Taxes 52

Abel HR

NOVEMBER 24, 2021

They would prefer it over stock offerings or increased 401K contributions because the loans are the financial burden that they are experiencing in real-time (and for many new grads, it’s their first experience being in debt, and it’s not a pleasant one!). Indeed, this perk is much revered by the college grad set.

401(k) 52

401(k) Taxes Education Payroll 52

Higginbotham

NOVEMBER 2, 2023

Offering retirement benefits also makes financial sense because they often come with tax incentives. A 401(k) plan is a popular example of a defined contribution plan. This is a new option that went into effect on March 27, 2020, and is set to end on December 31, 2025, assuming it’s not extended.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52

Empuls

JUNE 21, 2024

mostly provided traditional 401(k), while 68% also offered Roth 401(k) plans.  Also known as the 401(k) bill, this makes it mandatory for businesses with 10 or more employees to offer a retirement solution to their employees.   - The same study also revealed that 94% of the employers in the U.S.

401(k) 40

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

Vantage Circle

SEPTEMBER 26, 2021

While phantom stocks may sound good right now, there are many things you should know before you give phantom shares to your employees, including how they work and the tax implications. In the "appreciation only" method, in January 2025, Albert will receive the appreciated amount per share. How is phantom equity taxed?

Employee Stock Option 52

Employee Stock Option 401(k) Taxes Bonuses 52

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.

Family and Medical Leave Act 64

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

McNees

JANUARY 13, 2023

High Deductible Health Plans can continue to waive the deductible for any telehealth services for plan years beginning before January 1, 2025. Employers may now offer de minimis financial incentives to employees to participate in 401(k) and 403(b) plans. Retirement Benefit Plans. Webinar.

401(k) 98

401(k) Health and Welfare Employee Benefits Deductible 98

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

Business Management Daily

MARCH 15, 2021

The Treasury Inspector General for Tax Administration has a flyer you may want to hand out to employees. The core payroll -related provisions include: An extension, expansion, and reordering of the paid sick/family payroll tax credits. A requirement for employers to subsidize COBRA and a payroll tax credit for doing so.

Payroll 52

Payroll 401(k) Paid Sick Leave Taxes 52