Money Talk

MARCH 24, 2022

saving for later life in an IRA or 401(k) plan) while older women need “through retirement” goals. 401(k)s), tax-deferred accounts (e.g., 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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401(k) Finance Entertainment Taxes 278

Money Talk

APRIL 6, 2023

Below are my key take-aways: Reluctance to Spend - Many people who saved regularly for decades in retirement savings plans such as IRAs and 401(k)s- as financial experts told them to do- are now hesitant to spend down their assets. 401(k) plans), they generally don’t save for retirement. The alternative (i.e.,

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401(k) Retirement Plan Finance Government 245

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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401(k) Retirement Plan IT 110

WEX Inc.

NOVEMBER 21, 2024

Beyond the traditional 401(k) match , some employers are introducing student loan repayment matching , helping employees reduce debt while saving for retirement. The information in this blog post is for educational purposes only. Stay up to date on the latest in benefits by subscribing to our blog!

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Employee Benefits 401(k) Employment Health Savings Account 104

Money Talk

APRIL 20, 2023

401(k), 403(b), 457 plan, and thrift savings plan), and other employer benefits (e.g., For additional information about retirement planning for farmers, visit the Rutgers Cooperative Extension Later Life Farming website. health insurance). barn, silo, riding arena), farm equipment (e.g.,

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401(k) Pension Retirement Plan Taxes 246

Money Talk

MARCH 4, 2022

Required Minimum Distributions (RMDs) - Taxpayers with traditional IRAs, SEPs (self-employed), and employer retirement savings plans (401(k), 403(b), 457, and TSP) must begin annual RMDs upon reaching age 72. This post describes thirteen tax-related topics (in no particular order) that people should be familiar with in later life.

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Taxes 401(k) Deductible Deductions 245

Money Talk

APRIL 11, 2024

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). 401(k), 403(b), 457, or Thrift Savings Plan). Many have accumulated significant sums and need tax planning help.

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401(k) Taxes Retirement Plan Pension 185

Money Talk

JANUARY 18, 2023

401(k)s) and IRAs are pegged to inflation. 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. This pay increase may or may not cover all of their increased expenses, but it is better than no increase.

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401(k) Banking Deductible Deductions 246

Money Talk

JUNE 22, 2023

TSP, 401(k)s, and 403(b)s), and annuities so that proceeds can be transferred to beneficiaries free of probate. Sharing Information - Let trusted people know you’ve compiled your beneficiary designations in one place and share a copy with them. Typically, they are people or organizations that people care deeply about (e.g.,

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401(k) Life Insurance Retirement Plan Finance 235

Money Talk

AUGUST 31, 2023

America’s 401(k) Experiment - 2023 is the 45 th anniversary of tax-deferred 401(k) retirement savings plans that workers fund with voluntary contributions from their pay. Baby Boomers were “guinea pigs” for the use of 401(k)s, often as a substitute for defined benefit pensions.

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401(k) Pension Food Finance 159

Money Talk

FEBRUARY 1, 2024

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.

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401(k) Finance Pension Commissions 188

Money Talk

MARCH 15, 2023

What Not to Do - Annuities are generally not appropriate for qualified retirement plans such as 401(k)s or IRAs. 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. Look for highly rated, low-expense vendors.

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401(k) Life Insurance Taxes Insurance 244

Money Talk

JUNE 16, 2022

Examples include a 401(k) or 403(b) plan and traditional IRA. 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. Tax-exempt income is income that is free from federal income tax.

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Taxes 401(k) Retirement Plan Pension 188

Money Talk

APRIL 4, 2024

All other tax-deferred plans, like 401(k)s and the thrift savings plan (TSP), must have RMDs calculated separately. It is trained on a massive data set of text, pulls information from multiple sources, and consolidates it to create brand new content in response to prompts by users. saving and credit).

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401(k) Taxes Finance Education 196

Money Talk

SEPTEMBER 22, 2022

401(k)s, IRAs) • Out-of-pocket health care expenses • Poor credit history due to delayed bill-paying • Lost lifetime earnings due to unemployment and premature death • Grandparents raising grandchildren (impact on retirees) Financial Action Steps - The objective here is to prevent an opioid user’s access to cash with which to buy drugs.

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Finance 401(k) Hospitality Taxes 245

Money Talk

OCTOBER 19, 2023

Below are nine of my key take-aways from information that was provided about living well in later life and not running out of money during your lifetime: Medical Advances - Many of the leading causes of death today may no longer be as prevalent in another one or two decades due to medical research advances.

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401(k) Finance Medical Deductible 213

Money Talk

MAY 18, 2022

401(k), 403(b), and traditional IRA). This post provides general personal finance information and does not address all the variables that apply to an individual’s unique situation. should consider purchasing software or setting up a simple Excel spreadsheet to aggregate their business income and expenses throughout the year.

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Taxes 401(k) Deductible Deductions 263

Business Management Daily

MAY 5, 2022

Defined contribution plans such as 401(k) plans were never meant to function as retirement plans—they are profit-sharing plans. The undisputed fact is, however, 401(k) plans have morphed into retirement plans. As with W-4s, the trick with 401(k) plans is not giving advice. Here’s what you can do to help.

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401(k) Retirement Plan Deductible Deductions 133

Money Talk

SEPTEMBER 30, 2022

This is especially true when you “did everything right” and saved money in IRAs, 401(k)s and the like, as financial experts recommended. 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 Pension Deductible 245

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. Additionally, more businesses are offering student loan repayment programs – occasionally even as an alternative to 401(k) matching. This impacts the vast majority of employees.

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Employee Wellness 401(k) PTO Retirement Plan 80

Money Talk

SEPTEMBER 14, 2023

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. 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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Taxes 401(k) Retirement Plan Pension 194

Money Talk

FEBRUARY 10, 2022

401(k), 403(b), 457, or TSP). For more information about stopping junk mail, see [link]. This post provides general personal finance information and does not address all the variables that apply to an individual’s unique situation. Invest Automatically at Work - Participate in a tax-deferred employer retirement plan (e.g.

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401(k) Finance Taxes Retirement Plan 189

Money Talk

MARCH 22, 2023

Retirement Savings Plans - Maximum contributions for 2022 in traditional IRAs and 401(k)/403(b)/457/TSP retirement savings accounts are $6,000 and $20,500, respectively, for workers under age 50. In 2023, these limits are $6,500 and $22,500, respectively. A key take-away? Proactive planning can save money.

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Taxes 401(k) Deductible Deductions 189

Money Talk

FEBRUARY 15, 2024

401(k)s, 403(b)s, and traditional IRAs). 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. It is taxed at the ordinary income tax rates; i.e., the same marginal tax rate as the income sources noted above.

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Taxes 401(k) Commissions Bonuses 185

Money Talk

JANUARY 11, 2023

The easiest way to “pay yourself first” is to have savings deducted automatically from your paycheck through a 401(k) or other workplace savings plan. 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) Finance Deductible Deductions 185

Money Talk

DECEMBER 14, 2023

Retirement Savings Accounts - Money saved, preferably for decades, in tax-deferred employer retirement accounts; e.g., 401(k), 403(b), and 457 plans and the thrift savings plan (TSP). For additional information about retirement readiness and financial transitions that occur in later life, read my book , Flipping a Switch.

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401(k) Health Insurance Pension Taxes 155

Money Talk

APRIL 28, 2022

A psychological connectedness to future selves informs present behavior. 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. maximum HSA contribution, 2.

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401(k) Health Savings Account Finance Retirement Plan 186

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

The technical corrections bill includes this omitted language, clarifying that catch-up contributions are permitted in 401(k), 403(b), and 457(b) plans for all catch-up eligible participants. requires the DOL to establish an online searchable database with information about retirement benefits. Starter 401(k) Plans.

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401(k) Retirement Plan Education Finance 98

Money Talk

DECEMBER 29, 2022

Being the author of a book about transitions in later life , I am always looking for new information about this topic. 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.

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401(k) Taxes Retirement Plan Finance 181

Vantage Circle

SEPTEMBER 6, 2024

Organize team-building activities or fun events to foster camaraderie and show appreciation in a more informal setting. Share information about the history and significance of Cinco de Mayo to enhance understanding and appreciation of the holiday. Set up a virtual coffee chat for colleagues to connect informally.

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401(k) Education Media Food 106

Money Talk

JANUARY 26, 2022

401(k)/403(b)/457, TSP, SEP, and Traditional IRA accounts). Obtain information from account custodians about account balances on December 31 of the previous calendar (tax) year, 2. 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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401(k) Taxes Retirement Plan Finance 189

Money Talk

APRIL 7, 2022

401(k)s, 403(b)s, and traditional IRAs) can begin making penalty-free withdrawals starting at age 59½. This post provides general personal finance information and does not address all the variables that apply to an individual’s unique situation. However, taxpayers with tax-deferred retirement savings accounts (e.g.,

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401(k) Taxes Finance Education 189

InterWest Insurance Services

JULY 11, 2024

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.

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401(k) Health Savings Account Employment Commissions 98

Money Talk

DECEMBER 7, 2022

401(k)s and 403(b)s), however, nor can RMDs for personal IRAs and inherited IRAs be combined. 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. People will often do this for portfolio rebalancing reasons.

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401(k) Taxes Entertainment Retirement Plan 186

Achievers

JUNE 6, 2022

It’s easy to get this information directly from your team with an employee engagement solution that lets them provide honest feedback on which benefits they appreciate and which they could do without. Start with the must-haves, gathering all the information your organization needs to comply with applicable legal requirements.

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Employee Benefits Family and Medical Leave Act 401(k) Retirement Plan 281

HR Lineup

JANUARY 29, 2023

The platform provides small businesses with access to a range of benefits, including health insurance, 401(k) plans, and paid time off, helping small businesses attract and retain top talent. Another key feature of Bambee is its benefits offerings. Overall, Bambee is a comprehensive HR solution for small businesses.

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401(k) Payroll Service Health Insurance Payroll 130

Money Talk

APRIL 14, 2022

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. Tax-Deferred Investing - One way to avoid a higher tax bracket is to increase tax-deductible contributions to an employer retirement plan (e.g.,

Taxes 189

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