Insperity

OCTOBER 10, 2023

Act of 2022 enables business leaders to: Deliver additional financial benefits to round out an organization’s compensation strategy Remain competitive in an increasingly dynamic labor market Win the war for talent In this blog, we’ll discuss: What the SECURE 2.0 employer-sponsored 401(k) plans. The SECURE 2.0

401(k) 113

401(k) Retirement Plan Taxes Benefits Package 113

McDermott Will & Emery Employee Benefits

FEBRUARY 1, 2023

What do retirement plan professionals and participants need to know about the recently passed SECURE 2.0 appeared first on EMPLOYEE BENEFITS BLOG. appeared first on EMPLOYEE BENEFITS BLOG. Act of 2022?

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401(k) Retirement Plan Employee Benefits 97

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Internal Revenue Service (IRS) recently opened a new determination letter approval program for 403(b) retirement plans—commonly used by nonprofit organizations—which allows sponsors of certain individually designed plans to apply for a favorable determination letter.

401(k) 101

401(k) Retirement Plan Employee Benefits 101

Money Talk

APRIL 28, 2022

Methods include webinars, podcasts, blogs, television and radio shows, print media, websites, and more. Health Savings Accounts - One study found that the tax savings on many employees’ contributions to a health savings account (HSA) increases wealth by more than an employer match on the same employees’ 401(k) contributions.

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401(k) Health Savings Account Finance Retirement Plan 186

McDermott Will & Emery Employee Benefits

JANUARY 24, 2023

With over 90 changes to retirement plans and individual retirement accounts (IRAs), this webinar will highlight the key changes for 401(k) and 403(b) plans and defined benefit plans, as […] The post JOIN US: SECURE 2.0 Act of 2022.

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401(k) Retirement Plan Employee Benefits 97

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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401(k) Retirement Plan Taxes Employment 52

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. Retirement plans are essential for financial security in old age, and need sound investments to take care of living expenses, medical bills, and other necessities.

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401(k) Retirement Plan Banking Government 52

WEX Inc.

NOVEMBER 21, 2024

Retirement savings With retirement top-of-mind for many, companies are increasing their focus on retirement savings options. Beyond the traditional 401(k) match , some employers are introducing student loan repayment matching , helping employees reduce debt while saving for retirement.

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Employee Benefits 401(k) Employment Health Savings Account 104

Proskauer's Employee Benefits & Executive Compensa

JANUARY 30, 2023

provisions that specifically impact 403(b) plans include changes to: (1) amounts available for hardship distributions, (2) eligibility to participate in pooled and multiple employer plans, (3) treatment of long-term, part-time employees, and (4) potentially , investments in collective investment trusts. Before SECURE 2.0,

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401(k) Taxes Retirement Plan Commissions 111

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 This new rule is fraught with complexity and has generated numerous questions about how the requirements apply.

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401(k) Employee Benefits Employment Retirement Plan 105

McDermott Will & Emery Employee Benefits

FEBRUARY 6, 2024

Act, employers must now 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) plans and, beginning in 2025, their 403(b) plans. Following 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

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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

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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

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401(k) IT Employee Benefits Employment 104

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

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401(k) Employee Benefits Employment Retirement Plan 104

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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401(k) Employee Benefits Management Retirement Plan 52

Proskauer's Employee Benefits & Executive Compensa

JULY 6, 2022

In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss. We previously blogged here on the Eastern District of Kentucky’s September 2021 opinion dismissing the complaint.

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401(k) Retirement Plan Management IT 98

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. IRS Confirms Long-Term, Part-Time Employees Excludible From Certain Nondiscrimination Testing appeared first on EMPLOYEE BENEFITS BLOG.

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401(k) Employee Benefits Employment Retirement Plan 98

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 22, 2023

We have previously blogged on the flurry of class action lawsuits challenging 401(k) plan investments in the BlackRock LifePath Index Target Date Funds. The alleged underperformance of three and one-half years was long enough to raise an inference that the BlackRock Funds were imprudently retained.

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401(k) Retirement Plan IT 95

McDermott Will & Emery Employee Benefits

SEPTEMBER 30, 2022

A recent US Court of Appeals for the Seventh Circuit case supplies answers to many questions left open in 401(k) fee litigation cases after the US Supreme Court’s ruling earlier this year in Hughes v. Northwestern University. Specifically, to survive a motion to dismiss in the Seventh Circuit, the recent ruling in Albert v.

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401(k) Employee Benefits Executive Compensation Retirement Plan 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.

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

Money Talk

OCTOBER 27, 2021

Dollar-Cost Average Investment Purchases - Make regular investment deposits at regular time intervals, such as $100 per month in a mutual fund or 5% of pay every payday in an employer 401(k) or403(b) plan. Examples include traditional individual retirement accounts (IRAs), tax-deferred employer retirement plans (e.g.,

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401(k) Taxes Retirement Plan Education 100

InterWest Insurance Services

MARCH 22, 2022

The deadline is fast approaching for employers with 5 or more workers in California, and who do not already offer their employees a retirement plan, to register their staff for the CalSavers Retirement Savings Program. If you already have a qualified retirement plan for your employees, you do not have to participate.

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401(k) Retirement Plan Employment Deductions 98

Insperity

SEPTEMBER 21, 2023

In this blog, we’ll discuss: What employees are focused on and what they expect from their employer Why you, as an employer, should care about this issue What you can do to help your team members and protect your business What is employee financial wellness? For employees, their personal financial wellness is an acute concern right now.

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401(k) IT Benefits Package Finance 105

WEX Inc.

FEBRUARY 23, 2023

Because an HSA is a “savings” account, you’ll want to designate a beneficiary (or beneficiaries), just as you would with a 401(k) or other retirement-planning accounts. Stay updated on the latest trends and insight by subscribing to our blog ! The information in this blog post is for educational purposes only.

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

Insperity

OCTOBER 1, 2024

Emphasize wellness in benefits offerings Most standard benefits packages include things like health insurance, a 401(k) retirement plan and PTO. Increase company contributions to retirement plans. This impacts the vast majority of employees.

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Employee Wellness 401(k) PTO Retirement Plan 80

McDermott Will & Emery Employee Benefits

JANUARY 3, 2024

Beginning in 2024, employers and plan sponsors will need to implement new minimum eligibility rules, enacted by the SECURE and SECURE 2.0 Acts, that significantly expand eligibility for long-term, part-time employees to participate in employer-sponsored retirement plans.

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Retirement Plan Employee Benefits Employment 401(k) 105

McDermott Will & Emery Employee Benefits

OCTOBER 11, 2023

Act codifying an opportunity for employers to provide matching contributions within a tax-qualified retirement plan based on their employees’ qualified student loan payments outside the plan. appeared first on EMPLOYEE BENEFITS BLOG. In December 2022, Congress enacted groundbreaking legislation as part of the SECURE 2.0

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Retirement Plan Employment Taxes Employee Benefits 104

InterWest Insurance Services

AUGUST 30, 2022

401(k)s or other retirement plans. However, a number of other benefits are proving extremely popular — and many employees are considering these benefits “must haves,” and moving them to the top of the list when they consider their employers’ value proposition. Dental insurance. Life insurance.

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Benefits Package 401(k) Disability Insurance Health Insurance 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 11, 2023

includes significant changes for retirement plan sponsors and employers, as discussed in our prior blog posts. If you are looking for a short summary organized by effective date, we have prepared a “pocket guide” chart, which can be downloaded here.

Retirement Plan 94

Retirement Plan 401(k) Employment 94

McDermott Will & Emery Employee Benefits

APRIL 4, 2024

which was passed in December 2022, includes more than 90 provisions affecting US retirement plans, many of which are specifically aimed at enhancing savings opportunities […] The post A Q&A and More Delay: IRS Begins to Issue Clarifying Guidance on SECURE 2.0 Provisions appeared first on EMPLOYEE BENEFITS BLOG.

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Retirement Plan Employee Benefits 401(k) 80

COMPackage

NOVEMBER 3, 2024

Benefits: A detailed breakdown of employer-sponsored benefits like health insurance, paid time off (PTO), retirement plans, and wellness programs. Salaried Workers: Focus on annual salary, bonus potential, retirement plan options, and detailed benefit summaries.

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401(k) Retirement Plan Benefits Package Health Insurance 52

Benefit Resource Inc.

MARCH 23, 2021

If you have a pre-tax account and retirement is on the horizon, you’ll want to understand what happens to the funds in your account(s) once you retire. What happens to funds once you retire? A few distinct advantages make HRA VEBAs an excellent retirement vehicle. Want more information on these plans?

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401(k) Health Savings Account Retirement Plan Taxes 69

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.

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401(k) Payroll Taxes Employee Benefits 52

Snell & Wilmer Benefits

AUGUST 28, 2023

On August 25, 2023, the IRS issued Notice 2023-62 , which gives retirement plan sponsors a two-year administrative transition period to implement the SECURE 2.0 requirement that certain catch-up contributions to 401(k) and similar defined contribution plans be made on an after-tax Roth basis. This SECURE 2.0

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401(k) Retirement Plan Taxes Employee Benefits 52

Hireology

APRIL 16, 2019

As part of the survey, benefits taken into consideration for the ranking include: 401(k) match, medical benefits, paid time off (PTO) policies, telecommuting options, onsite fitness facilities, tuition reimbursement and career development programs. Are you interested in joining one of the best teams to work for in Chicago?

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401(k) PTO Retirement Plan Benefits Package 60

Benefit Resource Inc.

APRIL 4, 2024

While traditionally associated with healthcare expenses, HSAs can play a pivotal role in retirement planning for your employees. Let’s look at how HSAs and retirement intersect, and why integrating HSAs into your benefits strategy can be a game-changer for both your employees and your organization.

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401(k) Retirement Plan Benefits Package Deductible 52