WEX Inc.

JUNE 13, 2024

How is your HSA vs. your 401(k) vs. your IRA shaping up for retirement planning? To help you prepare, here is a breakdown of three common retirement accounts: an HSA vs. a 401(k) vs. an IRA. A 401(k) is … A 401(k) is a retirement savings plan offered by many employers that provides tax advantages.

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401(k) Retirement Plan Health Savings Account Deductions 96

HR Digest

MAY 13, 2023

Employee Stock Ownership Plans (ESOPs) and 401(k) plans are both popular retirement savings plans, but there are some key differences between the two. This article compares ESOPs and 401(k)s in terms of funding, investment options, risk, tax benefits, and other factors.

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Genesis HR Solutions

JANUARY 30, 2023

Should you auto-enroll your employees into your company’s 401(k) program? Automatic enrollment is exactly what it sounds like—you, the employer, automatically enroll your employees into your organization’s 401(k) plan. The 401(k) is pre-tax. You don’t need to shake a magic eight ball to make a decision.

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Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 13, 2023

In a case of first impression in the Tenth Circuit, the Court recently joined the chorus of circuit courts in holding that a 401(k) plan participant alleging excessive investment management or recordkeeping fees must assert a “meaningful benchmark” in order to survive a motion to dismiss. The case is Matney v. Barrick Gold , No.

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401(k) Retirement Plan Government Management 109

BerniePortal

NOVEMBER 6, 2024

The IRS has announced key updates for the 2025 tax year, including adjustments to tax brackets, 401(k) contribution limits, and FSA maximums. These changes, influenced by inflation, affect taxpayers' contributions and withholdings. Read on to learn about the updated figures you’ll need to know for the upcoming tax season.

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Employee Benefit News

JUNE 26, 2024

Last year, Americans saved more in their 401(k)s than ever before, according to new research from Vanguard.

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401(k) 86

HR Digest

OCTOBER 14, 2021

An increasing number of employees now have access to cryptocurrencies like Bitcoin in their 401(k) plans. The digital currency revolution has been happening for years now, but many people still don’t know what Bitcoin is or how it should be handled in their 401k plan. Advantages of 401(K) crypto investments.

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401(k) Taxes Retirement Plan Employment 59

Genesis HR Solutions

NOVEMBER 18, 2020

If you’re a small business owner interested in starting a 401(k) plan for your employees, you already understand how they will benefit, but you should also understand how the plan will affect you. Sometimes, the traditional 401(k) plan doesn’t end up providing you the full benefit you’d hoped for.

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Wellable

SEPTEMBER 11, 2023

The post Beyond The 401(k): The Full Potential Of Employee Financial Wellness appeared first on Wellable. 62% of workers see inflation as a barrier to securing their retirement. How can employers help their workforce navigate modern retirement amid market volatility?

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Proskauer's Employee Benefits & Executive Compensa

DECEMBER 7, 2023

The day after Thanksgiving, while many of us were fortunate enough to be reaching for leftover pie, the IRS released proposed regulations implementing the requirement that 401(k) plan sponsors permit “long-term part-time employees” to make elective contributions to a 401(k) plan. Who is a long-term part-time employee?

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Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 27, 2024

A California district court recently denied a motion to dismiss claims that the fiduciaries of a 401(k) plan breached their ERISA fiduciary duties of prudence and loyalty by selecting underperforming, high-cost investments and causing the plan to pay excessive fees for services. The case is Coppel v. Seaworld , No. 21-cv-1430 (S.D.

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Proskauer's Employee Benefits & Executive Compensa

APRIL 18, 2022

On Friday, for the second week in a row, the Ninth Circuit reversed dismissal of a 401(k) plan excessive fee litigation challenging the offering of retail share classes of mutual funds instead of cheaper institutional share classes.

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Business Management Daily

MARCH 21, 2022

Setting up a 401(k) for employees can be a daunting task for small business owners. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. What is a 401(k)?

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HR Digest

JULY 9, 2022

You probably have come across the occasional Roth IRA vs 401(k) comparisons to pick your retirement account. But where do you start, especially with the competition between Roth IRA vs 401k. What is a 401(k) plan? A Roth 401(k) is an account in which contributions are taken directly from the paychecks of employees.

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HR Lineup

OCTOBER 25, 2023

One of the cornerstones of retirement planning is the 401(k) plan, and choosing the right provider can significantly impact your financial future. In this article, we’ll explore the top 10 401(k) providers for 2023, each offering unique features and benefits to help you make an informed decision. What is a 401(k)?

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HR Digest

MARCH 24, 2023

Are you planning to invest in a 401(k) retirement savings plan, but unsure of the critical things to consider before making a decision? In this article, we will share 20 essential things you need to know about a 401(k), including contribution limits, investment options, employer contributions, fees, and more.

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HR Digest

MARCH 28, 2023

One popular way to get your retirement plan sorted in the United States is through a 401(k) plan. A 401(k) plan is a type of retirement account offered by employers to their employees. How does 401(k) work? A 401(k) plan is that the money grows tax-free until it is withdrawn at retirement age.

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International Foundation of Employee Benefit Plans

MAY 4, 2022

Last week, we shared five reasons why cryptocurrencies can present serious risks to 401(k) fiduciaries and participants. Read more > The post Cryptocurrency Guidance for 401(k) Plan Fiduciaries appeared first on Word on Benefits. Since then, there has been some confusion about fiduciary duties when it comes.

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401(k) Education Employee Benefits IT 75

Proskauer's Employee Benefits & Executive Compensa

APRIL 11, 2022

On Friday, the Ninth Circuit became the first circuit court to rule in a 401(k) plan fee and investment litigation following the Supreme Court’s January 2022 decision in Hughes v. Northwestern University , 142 S. 737 (2022). In Davis v. Salesforce.com, Inc., 21-15867 (9th Cir. A discussion of Hughes can be found on our blog here.

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HR Digest

FEBRUARY 8, 2023

If you’ve ever wondered what happens to your 401(K) when you leave a job, you’re not alone. In fact, it’s one of the most common questions employees ask when they intend to leave their jobs and make a 401(K) withdrawal. So what happens to your 401(K) when you quit or are fired?

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HR Digest

FEBRUARY 13, 2022

To provide financial support, many employers think about 401K retirement plans a nd student loans. The post A Better 401(K) Is the Top Reason Why Workers Switch Jobs appeared first on The HR Digest. Emergency funds are almost empty and employees need some kinds of financial benefits to stay satisfied at work. .

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BerniePortal

JUNE 1, 2022

Many firms like Fidelity Investments have been willing to bet on Bitcoin and other alternative currencies—at least as an offering for 401(k) plans. Citing employer’s “fiduciary responsibilities” under ERISA, the DOL’s cautionary stance on crypto investments has been particularly strong.

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401(k) Employment IT 98

International Foundation of Employee Benefit Plans

NOVEMBER 18, 2022

Court affirms judgment in favor of the defendant employer related to the award of 401(k) benefits to a former employee’s ex-husband. The post Legal & Legislative Reporter: Distribution of 401(k) Benefits to Ex-Husband appeared first on Word on Benefits.

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InterWest Insurance Services

NOVEMBER 25, 2022

The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. Funds in an HSA can be rolled over indefinitely year after year and invested, much like a 401(k) plan. 7,750 for family coverage (up $450). Retirement plan maximums.

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Business Management Daily

FEBRUARY 23, 2022

Last year, the Department of Labor released a trio of documents advising employers with 401(k) plans about cybersecurity. The post The DOL makes 401(K) cybersecurity recommendations appeared first on Business Management Daily. Perhaps the DOL should secure its own computer systems first.

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401(k) Software Government Management 98

Patriot Software

OCTOBER 10, 2022

If you provide a 401(k) account as a benefit to your employees, you need to know the deadline for depositing the employee deferrals into their accounts. If you don’t deposit 401(k) contributions on time, you might face multiple consequences.

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Patriot Software

OCTOBER 17, 2022

Two common retirement plans for employees are individual retirement arrangement/account (IRA) plans and 401(k) plans. Are you thinking about offering retirement plans at your small business? There are a lot of retirement options to choose from. Maybe you are considering establishing a Roth, or post-tax contribution, retirement plan.

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401(k) roth 401(k) Retirement Plan Taxes 91

Business Management Daily

OCTOBER 19, 2023

This should give you pause if you’re considering allowing your 401(k) plan to offer a crypto investment option. So in March 2022, the DOL issued guidance cautioning employers about offering a crypto investment option in their 401(k) plans. which says it’s “the first 401(k) platform to provide access to cryptocurrency.”

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401(k) IT Management Employment 52

Patriot Software

JULY 11, 2022

In the United States, the most common type of retirement plan is the trusty 401(k). However, not all 401(k)s are the same. With over 60 million active participants and an estimated $7.3 trillion in assets, businesses of all sizes offer this type of plan to help their employees save for the retirement they deserve.

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401(k) Retirement Plan Payroll 82

Proskauer's Employee Benefits & Executive Compensa

MARCH 14, 2022

Department of Labor Employee Benefits Security Administration (“DOL”), cryptocurrency might carry similar dangers for otherwise strong and healthy 401(k) plan accounts. On March 10, 2022, DOL issued Compliance Assistance Release No. On March 10, 2022, DOL issued Compliance Assistance Release No.

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HR Digest

APRIL 30, 2022

A Bitcoin 401(k). recently revealed that they plan to offer investors the option to put bitcoin in their 401(k)s by the end of this year. A 401(k) plan is a company-sponsored retirement account where employee funding might come directly from their paychecks and may be matched by the employer.

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Business Management Daily

SEPTEMBER 16, 2022

Technically, 401(k) plans are profit-sharing plans, not retirement plans. Census Bureau has data providing insight on 401(k) plan participation, which may come in handy if you need to ramp up participation to satisfy nondiscrimination testing. Who has 401(k) accounts? Census Bureau, 34.6%

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401(k) Profit Sharing Plan Retirement Plan Employee Benefits 52

BerniePortal

OCTOBER 26, 2020

In October 2020, the IRS announced key updates to 401(k) contribution limits for 2021, including changes to catch-up contributions and employer contributions. Here’s what HR needs to know about this announcement.

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401(k) Employment 95

International Foundation of Employee Benefit Plans

APRIL 28, 2022

Read more > The post Five Reasons Why Cryptocurrencies Can Present Serious Risks to 401(k) Fiduciaries and Participants appeared first on Word on Benefits.

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Patriot Software

JANUARY 25, 2021

As an employer, you can offer small business retirement options, like 401(k) plans, to your employees. But when it comes to 401(k) options, it isn’t just a one and done type of deal. There are a few different types of 401(k) plans to choose from.

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McDermott Will & Emery Employee Benefits

FEBRUARY 2, 2023

According to this Law360 article, seven former Schneider Electric employees accused the company and its investment manager of running afoul of the Employee Retirement Income Security Act of 1974 when they replaced well-performing funds […] The post ERISA 401(k) Fee Case Victory for Schneider appeared first on EMPLOYEE BENEFITS BLOG.

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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. builds on what we can now call SECURE 1.0,

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