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I recently attended a webinar about women’s finances presented by the FINRA Investor Education Foundation in cooperation with the New York Public Library. The webinar began with a justification for focusing on financial planning for women. 57% of men) ¨ 59% of women feel anxious about their finances (vs. 52% of men) ¨ 48% of women (vs.
One of my Money Talk clients is my long-time employer, Rutgers Cooperative Extension. In addition to writing monthly Small Steps to Health and Wealth™ financial messages , I also present online webinars and class segments. 401(k), 403(b), 457 plan, and thrift savings plan), and other employer benefits (e.g.,
I recently attended a Financial Planning Association (FPA) webinar about traditional and Roth IRAs presented by Ed Slott , a nationally recognized expert on IRAs and frequent presenter at conferences for financial advisors. 401(k), 403(b), 457, or Thrift Savings Plan). There is no way out. tax bracket was over 90%.
This post describes highlights from a recent webinar about retirement planning and taxes in both "to retirement" years (working and saving) and "through retirement" years (later life asset withdrawals). Examples include a 401(k) or 403(b) plan and traditional IRA. Does your employer offer matching retirement contributions?
Ramp Up Retirement Savings - Consider increasing retirement savings in a tax-deferred employer retirement savings plan (e.g., 401(k), 403(b), and traditional IRA). Normal” tax rules apply in 2022, however, which may require a withholding change for many families to avoid getting a smaller refund, or owing tax, in 2023. . ¨
I recently attended a NY Public Library webinar about tax planning and below is a summary: Standard Deduction - 2023 saw the largest ever automatic adjustment to standard deductions since indexing was introduced in the 1980s. Workers age 50 + can save up to $7,500 in IRAs and up to $30,000 in employer savings plans in 2023.
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.
Employers can help bridge the race gap. Some employers have taken it a step further and require applicants of color to be interviewed for all internal and external positions. Events, contests and webinars can be an easy way to encourage employees and teach them about 401(k) tax benefits.
I recently attended several webinars and listened to several podcasts about issues related to retirement planning and personal finance issues in later life. Unfortunately, many employers and/or jobs are not set up to do this and phased retirements often do not occur. Once retired, most people stay retired. It is mostly a “full stop.”
This encompasses both work-related benefits such as understanding how to maximize employer contributions into their 401(k)s or choosing the right investment options when it comes to their pension plans as well as learning how to manage their personal finances in more efficient and effective ways.
Provisions of the […] The post Webinar Replay: New Employee Benefits Requirements for Part-Time Employees, Independent Contractors appeared first on EMPLOYEE BENEFITS BLOG. If you employ part-time workers and/or engage independent contractors, sit up and take note: 2024 brings significant changes to how you must manage your workforce.
So, what can employers do to address these mostly external factors that can impact employee wellbeing? Financial health is a significant concern in the relationship between employers and employees. It is your responsibility as an employer to proactively address employee wellbeing. This is what a culture of wellness is all about.
Some employers start as early as September. Most employees elect coverage through their employer, but some may be eligible for marketplace coverage as well. Most employers have an open enrollment period of at least 2 to 4 weeks. Webinars or meetings can be helpful. Make any necessary additions. During open enrollment.
Retirement plans Basically, it is the retirement plans—401(k) or pension plans—through which an employee receives financial security during service years other than while serving. Employer matching may make this more tantalizing, pushing the envelope of long-term feelings of financial well-being further for employees.
Numerous surveys and reports, including Wellable’s 2018 Wellness Industry Trends research, identify financial wellness as a key area of focus for employers looking to improve the overall health and well-being of their employees.
When people save in a 401k, for example, they’re by and large not thinking about all the features, they’re thinking about stopping working one day through retirement, right? So, we think about the benefit, not in terms of the employer base benefits, but rather the ultimate benefit of taking action in mind.”
Encourage them to attend classes, webinars and conventions. This could include investments, such as stock options and 401(k) retirement plans. Some employers see job title changes as a cost-efficient way to retain employees and boost morale. Not all employers take advantage of exit interviews. Avoid new job titles.
That’s why we’ve compiled this summary of one of our recent webinars that Alice Gilman, Esq, hosted. It provides provisions aimed at improving employee retirement outcomes and makes starting 401(k) plans more attractive and beneficial for employers – even those with 50 or fewer employees. How does it do that?
Encourage them to attend classes, webinars and conventions. This could include investments, such as stock options and 401(k) retirement plans. Some employers see job title changes as a cost-efficient way to retain employees and boost morale. Not all employers take advantage of exit interviews. Avoid new job titles.
Explore Other Perks Some employers offer additional perks with their pre-tax benefits, such as wellness programs or discounts on health-related products and services. The funds you contribute can be invested, similar to a 401(k) or IRA, allowing them to potentially grow over time.
As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. Why Should Employers Care?
From time tracking to virtual onboarding, HR tools can help make life easier for employers and employees. This capability provides the latest accessibility for end-users, as these apps can allow for anything from adjusting 401k contributions to completing benefits enrollment to viewing pay stubs from anywhere in the world.
Rather than over-expending resources on attracting talent, employers should take a serious look at ways to retain employees already at the company. There are many reasons why employers and their HR professionals should prioritize employee retention. industries and it emphasizes the importance of the retention process in HR.
Plus, you can attend training and webinars to expand your knowledge of HR practices and know the experts in the field. As a professional employer organization, you can rely on our staff to work on your HR tasks, while focusing on your business. Like HR BLR and SHRM, Talent Management & HR is another go-to source for HR pros.
In fact, a second study found that more than half of workers would accept a job with a lower salary if it offered a better benefits package and in yet another study , three-quarters of those surveyed said that they would stay with their current employer because of the benefits that they offer.
I recently attended a number of webinars about retirement planning. Recovering Losses is Difficult - In one webinar, an example was given of stock originally purchased for $100 a share and sold in a panic at $66.66 Being the author of a book about transitions in later life , I am always looking for new information about this topic.
Companies that think free snacks and a 401(k) match are enough? Retirement Plans (401(k) & Pensions) A robust 401(k) match or pension plan is a powerful signal that a company views its employees as long-term partners, not disposable resources. The modern workforce wants more. What’s next?
Despite these data points, organizations are just starting to recognize that recognition is a critical tool for incentivizing employees: one in five employers started their recognition program in the last 12 months. Employers have the freedom to reduce these at any time, so they can rein in expenses for a year or two when necessary.
Several months ago, in the space of one day, I attended a webinar about longevity by a financial planner, read a research report about “longevity literacy,” and attended a health education class for older adults. At the end of the day, I realized that all three of these events were interrelated.
Host workshops or webinars on stress management and mental well-being. It builds trust between employers and employees, which boosts morale. Retirement savings plans, such as 401(k)s, to help employees plan for their future. Foster an open environment where employees feel comfortable discussing their mental health.
Employers may now offer de minimis financial incentives to employees to participate in 401(k) and 403(b) plans. Employers may participate in multiple employer 403(b) plans. Employers joining a multiple employer plan are eligible for a startup tax credit for 3 years. Webinar.
Below are eight recommended financial recovery steps that I heard recently at several webinars: Replenish Emergency Savings- Set a final goal (e.g., Another great way to build savings momentum is to automate savings through an employer retirement savings plan or automatic payroll deductions for a credit union savings account.
Additionally, younger workers may prioritize employer-sponsored retirement plans , placing pressure on HR to enhance these offerings. Employer-Sponsored Retirement Plans With Social Securitys future uncertain, employers can play a pivotal role in securing employees retirement by strengthening private plans.
Similar to the COVID distributions, a 401(k) may allow “qualified disaster distributions” up to $100,000 that will not be subject to the 10% early withdrawal penalty. For more information on these changes and other employee benefit law changes, contact a member of our Labor and Employment or Employee Benefits Group.
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