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Annuity Myths and Facts

Money Talk

Examples include surrender charges, sales commissions (loads), management fees, and mortality charges. What Not to Do - Annuities are generally not appropriate for qualified retirement plans such as 401(k)s or IRAs. Annuity salespeople sometimes convince people there are no fees but, of course, there are.

401(k) 244
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Middle-Income Earners Can Be Millionaires

Money Talk

saving 10% of pay in a 401(k) plan). Payroll deductions for defined contribution plans, like 401(k)s, make adhering to advice to “pay your first” automatic. What matters is that proactive action is taken afterward to increase savings and reduce debt so that a positive net worth steadily grows.

401(k) 188
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What is Futa and Suta Tax?

HR Lineup

To have a better understanding, check the tax commission for your state since they vary. . When it comes to FUTA tax, you will start by figuring out all the payments paid to your employees, including salaries, wages, sick pay, bonuses, contributions towards the 401(k), etc. How is SUTA and FUTA tax calculated.

Taxes 243
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Do You Know Your Income Tax Rates?

Money Talk

Examples include salary, wage, commission, bonus, and tip income, rents and royalties, interest, and required minimum distribution (RMD) withdrawals from tax-deferred retirement savings accounts (e.g., 401(k)s, 403(b)s, and traditional IRAs).

Taxes 185
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New Fiduciary Rule Affects Employers that Offer HSAs

InterWest Insurance Services

The Department of Labor’s new fiduciary rule, which mainly applies to 401(k) plans, will also affect employers who offer their staff health savings accounts. The new rule, which takes effect September 2024, bars employers from providing advice to their workers on how they should invest the funds in the HSA they offer.

401(k) 98
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SECURE 2.0 Brings Significant Changes for 403(b) Plans

Proskauer's Employee Benefits & Executive Compensa

Historically, the Code restricted 403(b) plans more than 401(k) plans in terms of the contributions and earnings available for hardship withdrawal. 401(k) plans increasingly offer group trusts in their investment line-ups as cost-effective alternatives to mutual funds. Before SECURE 2.0, However, SECURE 2.0

401(k) 111
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Data brokers could be mining employee data, the CFPB isn’t happy

Business Management Daily

The Federal Trade Commission recently dinged a digital healthcare platform for sharing consumers’ sensitive health information for advertising purposes. You can ask your 401(k) record keeper, health plan, payroll provider , etc. And we’re not the only one who thinks there’s a creep factor here. What can you do?

Mining 105