Money Talk

APRIL 11, 2024

Tax planning involves looking ahead and projecting future income and tax write-offs. Baby Boomer Challenges - Baby boomers (born 1946-1964) were the first generation with the ability to save money for retirement in 403(b)s, 401(k)s, and IRAs for decades (their parent’s generation had pensions). There is no way out.

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401(k) Taxes Retirement Plan Pension 186

WEX Inc.

JULY 24, 2023

Fortunately, there’s an often overlooked way to help employees build wealth and prepare for retirement. Why HSAs for retirement planning? These accounts provide another way for your employees to diversify their efforts to prepare for retirement. Click below to get your free HSA retirement white paper.

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Retirement Plan 401(k) Health Savings Account Taxes 98

Money Talk

FEBRUARY 10, 2022

After work, commuting, eating, sleeping, and/or exercise, many people have less than five hours on a typical weekday to manage everything in their life, including personal finances. How do you take charge of your finances when time is at a premium? 401(k), 403(b), 457, or TSP).

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401(k) Finance Taxes Retirement Plan 189

Money Talk

SEPTEMBER 14, 2023

Types of Tax-Deferred Accounts - These include employer-sponsored defined contribution plans (e.g., 401(k), 403(b), 457, thrift savings plan), Traditional IRAs funded with pre-tax dollars, simplified employee pensions (SEPs) for self-employed workers, and annuities.

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Taxes 401(k) Retirement Plan Pension 195

Money Talk

APRIL 28, 2022

When someone feels powerless, a financial counselor might say “Tell me about a time that you felt in control over your finances.” Always Be Learning (ABL)- Lifelong learners seek out opportunities to learn new things about personal finance (or other topics). unmatched employer retirement savings, 6. maximum HSA contribution, 2.

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401(k) Health Savings Account Finance Retirement Plan 186

Money Talk

DECEMBER 22, 2021

Tax-Deferred Retirement Plan Limits - Like IRAs, maximum plan contributions are indexed for inflation. In 2022, retirement savers in 401(k)/403(b)/457 plans and the federal Thrift Savings Plan (TSP) who are under age 50 can contribute up to $20,500, a $1,000 increase from $19,500 in 2021.

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401(k) Pension Taxes Deductions 233

Money Talk

JANUARY 26, 2022

RMD Definition - RMDs are t he amount of money that investors age 72 and older are required by the IRS to withdraw from tax-deferred retirement savings plans (e.g., 401(k)/403(b)/457, TSP, SEP, and Traditional IRA accounts). The amount of money that is withdrawn is taxable as ordinary income.

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401(k) Taxes Retirement Plan Finance 189

Money Talk

JULY 13, 2023

Act of 2022 , passed last December, has financial planning opportunities for both the accumulation and distribution phases of retirement planning. New Catch-Up Limit - Currently, additional catch-up savings ($7,500 in 2023) in employer retirement plans is available for workers age 50+. The SECURE 2.0

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401(k) Retirement Plan Taxes Salary 130

Best Money Moves

APRIL 17, 2019

Retirement concerns: is financial literacy the solution? Those workers that do have a 401k aren’t saving enough to cover expenses in retirement, even when employers match contributions. Americans Are Not Saving Enough for Retirement. Can Financial Literacy Solve Retirement Concerns? Nearly half of U.S.

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401(k) Retirement Plan Finance Insurance 97

Money Talk

DECEMBER 29, 2022

I recently attended a number of webinars about retirement planning. It’s What You Keep - Retirees with tax-deferred savings in traditional IRAs and 401(k)/403(b) and similar employer savings plans cannot forget about taxes due on this money. Many have to settle for less. It is not all theirs to keep.

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401(k) Taxes Retirement Plan Finance 181

Best Money Moves

JANUARY 31, 2023

When it comes to retirement benefits, employees are looking for more than just a 401(k) — they want comprehensive guidance on how to prepare for the future. Here are 3 ways to help all employees get prepared for life during retirement. All employees are in different stages of retirement preparedness and security.

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401(k) Retirement Plan Banking Finance 119

Money Talk

DECEMBER 7, 2022

Some people arrange automatic monthly payments through their retirement plan custodian to simulate a “paycheck” while others take their RMD quarterly or in one lump sum. 401(k)s and 403(b)s), however, nor can RMDs for personal IRAs and inherited IRAs be combined.

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401(k) Taxes Entertainment Retirement Plan 186

Money Talk

APRIL 14, 2022

Tax-Deferred Investing - One way to avoid a higher tax bracket is to increase tax-deductible contributions to an employer retirement plan (e.g., 401(k), 403(b), 457, TSP). This post provides general personal finance information and does not address all the variables that apply to an individual’s unique situation.

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Taxes Family and Medical Leave Act 401(k) Deductible 189

Best Money Moves

NOVEMBER 7, 2023

63% of employees feel that economic uncertainty affects current and future workplace benefits and 401(k) retirement plans. Workers in the baby boomer generation are having to delay retirement due to the instability of the current economy.

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401(k) Retirement Plan Banking Finance 106

Money Talk

JUNE 13, 2024

In a recent article for the Rutgers Cooperative Extension newsletter, VISIONS , I described key features of your tax return to review for future financial planning including income sources, tax write-offs, changes in tax filing status, tax rates and marginal tax brackets, tax withholding, retirement plan contributions, and capital gains and losses.

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Taxes 401(k) Retirement Plan Health Savings Account 126

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

Act of 2022 (“SECURE 2.0”) was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act, and included a myriad of required and optional plan design changes for retirement plan sponsors and employers (described in more detail here ). Automatic Enrollment Provision Applied to Multiemployer Plans.

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401(k) Retirement Plan Education Finance 98

Best Money Moves

MAY 10, 2022

Offer competitive, matched retirement planning options. Retirement planning is one of the most common employee benefits offered by employers, specifically a 401(k) matching plan. Employer-sponsered emergency savings accounts may be funded similarly to 401(k) accounts.

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401(k) Employment Retirement Plan Financial Counseling 112

Best Money Moves

JUNE 1, 2022

According to BenefitsPro, 82% of HR executives are concerned that their employees’ personal finance issues affect workplace productivity. . A few great ways for employers to assist employees are auto-enrolled retirement plans and increasing 401(k) contributions. Comprehensive Financial Benefit Packages.

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401(k) Out of Pocket Cost Benefits Package Finance 116

Best Money Moves

OCTOBER 7, 2021

According to a 2021 Capital One CreditWise survey , 73 percent of Americans rank their finances as the most significant source of stress in their life. This does not mean that employees are discouraged from enrolling in these programs or learning more about their finances. The best time for employees to start saving is right now.

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401(k) Retirement Plan Financial Counseling Finance 98

Money Talk

OCTOBER 7, 2021

I recently attended several webinars and listened to several podcasts about issues related to retirement planning and personal finance issues in later life. According to the EBRI RCS, 46% of the retiree subsample said that they retired earlier than planned and 6% retired later.

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401(k) Entertainment Taxes Retirement Plan 130

Insperity

SEPTEMBER 21, 2023

Even among employees earning at least $100,000 per year, 47% are stressed about their finances and 15% run out of money between paychecks. The PwC survey found that financially stressed employees are five times more likely to say that personal finance issues have caused distractions at work.

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401(k) IT Benefits Package Finance 105

Best Money Moves

MAY 4, 2022

According to the Morgan Stanley data, high earners were generally attracted to three financial wellness benefits: Retirement planning (69%). Financial wellness can help you go beyond with company retirement matching. Access to financial advising (57%). General financial education (41%).

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401(k) Retirement Plan Salary Finance 111

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

Flimp Communications

MARCH 31, 2020

With everyone under unique and often financial strains, many are examining their finances, searching for ways to save money. Examining and taking control of finances is one way people are coping. Make sure employees understand the tax implications of various deductions and contributions, like for HSAs or 401(k)s.

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401(k) Retirement Plan Medical Taxes 75

Insperity

APRIL 5, 2016

While it’s not really your job to make sure your employees are saving for retirement, having a 401(k) plan among other benefits can help you both. There are a few ways you can help Gen X – and your entire workforce – get on the retirement savings bandwagon: Have a good provider. Accessibility to service.

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401(k) Employment Retirement Plan Professional Employer Organization 63

Insperity

FEBRUARY 3, 2011

Retiring comfortably is something every worker dreams of. Sponsoring a retirement plan can help them get there. Retirement plans come in a wide range of shapes and sizes, each with its own unique functionality. The following steps can help simplify the process of choosing and managing a plan.

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Retirement Plan 401(k) Employment Profit Sharing Plan 40

Best Money Moves

OCTOBER 7, 2020

Financial wellness programs have emerged as a key employee benefit in the last few years and COVID-19 has only strengthened demand for resources that can help employees deal with their finances. 30 percent want information on retirement plans. 28 percent want the availability of financial products/services that help employees.

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Employee Benefits 401(k) Banking Retirement Plan 106

Vantage Circle

JULY 5, 2019

Employees are worried about their money and roughly half are stressed about their finances and have said that their retirement plans will not be enough to support them after retirement. Consider the 401K plan, which is also a financial benefit existing way before than other benefits that organizations opt for.

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401(k) Retirement Plan Finance Education 72

Insperity

FEBRUARY 13, 2018

When an employee is worried, unproductive and can’t afford to participate in group activities and outings because of finances, it not only affects the person but the team as a whole. Make a 401(k) plan available to them. They may spend countless hours worrying about how they’re going to survive in retirement.

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401(k) Disability Insurance Flexible Spending Account Deductions 75

Money Talk

AUGUST 24, 2023

Roth accounts and municipal bonds), and tax-deferred retirement savings accounts (e.g., traditional RIRAs and 401(k)s). This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

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401(k) Taxes Life Insurance Insurance 100

HR Professionals Magazine

JULY 26, 2022

Before we jump into another exhilarating talk around 401(k) legislation (please sense my sarcasm), I want you to take a few seconds and ask yourself why it all truly matters. Sure, 401(k)s are an incredibly important part of a company’s total benefits package. Source: Transamerica Center for Retirement Studies).

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401(k) Benefits Package Retirement Plan Government 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

HR Lineup

FEBRUARY 5, 2023

In addition to retirement planning, Personal Capital also offers tools for investment management, including a portfolio tracker, performance analysis, and investment tracking. Users can connect all their investment accounts, including 401(k)s, IRAs, brokerage accounts, and more, to get a complete view of their finances in one place.

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401(k) Retirement Plan Finance Software 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

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401(k) Retirement Plan Salary Take Home Pay 52

Flimp Communications

OCTOBER 25, 2024

Nearly two-thirds of Americans don’t think their finances will improve this year , and three-quarters are anxious about their financial situation. When employees feel good about their finances, they are statistically happier — 84% vs. 55% — and more engaged — 78% vs. 53% — than their financially stressed counterparts.

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roth 401(k) 401(k) Flexible Spending Account Taxes 52

UpstartHR

SEPTEMBER 26, 2016

A stray comment from a 7:00am 401k administration session at SHRM 2013 still rings in my ears when I talk about workplace retirement plans. One great way to get started is to find some time together with other key people in the company, and that includes people leading your technology team, your accounting/finance team, etc.

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IT 401(k) Retirement Plan Finance 81

Best Money Moves

NOVEMBER 7, 2018

In the long run, this can hurt their future savings — thirty percent of respondents say they haven’t stayed at a job enough to set up a retirement plan — and it can hurt employers’ bottom line too as they work to combat increased turnover.

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401(k) Banking Retirement Plan Education 87