InterWest Insurance Services

NOVEMBER 25, 2022

The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. The maximum contribution levels are readjusted every year to account for inflation, along with maximum retirement plan contribution limits. Retirement plan maximums.

401(k) 98

401(k) Deductible Deductions Flexible Spending Account 98

Money Talk

APRIL 20, 2023

Benefits are based on a worker’s 35 highest earning years and delayed retirement credits between full retirement age and age 70 increase benefit amounts. Off-Farm Job Employer Benefits - These include a defined benefit pension, an employer retirement savings plan (e.g., health insurance).

401(k) 246

401(k) Pension Retirement Plan Taxes 246

Money Talk

JUNE 16, 2022

If you picture retirement planning and taxes as a Venn Diagram, there is lots of overlap between these two areas of personal finance. This is true both during one’s working years (when taxpayers are saving for retirement) and later, when people are older and withdrawing taxable income from tax-deferred accounts.

Taxes 188

Taxes 401(k) Retirement Plan Pension 188

Money Talk

JANUARY 18, 2023

Increased Savings Contribution Limits - Maximum limits for employer retirement plans (e.g., 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.

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401(k) Banking Deductible Deductions 246

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 185

Money Talk

JUNE 22, 2023

Beneficiary Use- Beneficiary designations are required for life insurance policies, individual retirement accounts (IRAs), employer retirement savings plans (e.g., TSP, 401(k)s, and 403(b)s), and annuities so that proceeds can be transferred to beneficiaries free of probate.

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401(k) Life Insurance Retirement Plan Finance 235

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. They are already a tax-deferred product and investors gain no benefit by placing them in a tax-deferred plan. Deferred annuities make payments at a future date and allow annuitants time to make deposits.

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401(k) Life Insurance Taxes Insurance 244

Proskauer's Employee Benefits & Executive Compensa

MARCH 14, 2022

Department of Labor Employee Benefits Security Administration (“DOL”), cryptocurrency might carry similar dangers for otherwise strong and healthy 401(k) plan accounts. DOL’s 5 Reasons Why Cryptocurrencies Might be Like “Crypto-nite” to Participant Retirement Accounts: Digital Assets Are Highly Speculative and Volatile.

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401(k) IT Retirement Plan Government 97

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.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

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.

401(k) 110

401(k) Retirement Plan IT 110

WEX Inc.

JUNE 13, 2023

And baby boomers are actually the highest percentage of retirement-account holders among any group segmented in a 2021 survey by the U.S. This lack of retirement planning by large segments of employees is leading to more stress for them and less productivity at work. First, offer retirement plans. Census Bureau.

Retirement Plan 98

Retirement Plan 401(k) IT Healthcare 98

HR Professionals Magazine

MAY 24, 2022

As a team of 401(k) advisors focused on participant outcomes, we are constantly fielding financial related questions from employees seeking advice. In the DOL’s guidance, they acknowledge the wave of enthusiasm around crypto and the potential for them to become investment options in 401(k) plans. By Jim Trujillo.

Retirement Plan 98

Retirement Plan 401(k) Banking Education 98

Business Management Daily

MAY 5, 2022

Fewer employees are covered by traditionally defined benefit plans. DB plans are retirement plans. The plan sponsor, most likely the employer, bears all the investment risk and pays you a fixed amount every month until you die. The undisputed fact is, however, 401(k) plans have morphed into retirement plans.

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401(k) Retirement Plan Deductible Deductions 133

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.

Taxes 194

Taxes 401(k) Retirement Plan Pension 194

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.

Employee Wellness 80

Employee Wellness 401(k) PTO Retirement Plan 80

Money Talk

FEBRUARY 10, 2022

Invest Automatically at Work - Participate in a tax-deferred employer retirement plan (e.g. 401(k), 403(b), 457, or TSP). For more information about stopping junk mail, see [link]. phone, electric, water) and other recurring bills and automated deposits into saving and investment accounts.

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401(k) Finance Taxes Retirement Plan 189

Business Management Daily

MARCH 21, 2022

Setting up a 401(k) for employees can be a daunting task for small business owners. It’s important to take care of the people that work to keep your business alive, and helping them plan for their retirement is a great way to do that. What is a 401(k)? Do employers have to offer a 401(k) to employees?

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401(k) roth 401(k) Retirement Plan Deductible 52

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

COMPackage

NOVEMBER 3, 2024

Benefits: A detailed breakdown of employer-sponsored benefits like health insurance, paid time off (PTO), retirement plans, and wellness programs. Informed Financial Decisions: Clear information on benefits allows employees to make informed financial choices about budgeting, saving, and planning for retirement.

401(k) 52

401(k) Retirement Plan Benefits Package Health Insurance 52

HR Digest

JULY 9, 2022

You probably have come across the occasional Roth IRA vs 401(k) comparisons to pick your retirement account. Maybe your company offers matching funds or doesn’t offer any retirement plan at all. Nevertheless, it’s an arduous task to choose the best retirement account. What is a 401(k) plan?

401(k) 52

401(k) roth 401(k) Taxes Retirement Plan 52

Insperity

JANUARY 2, 2020

It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all.

Retirement Plan 65

Retirement Plan 401(k) Payroll Employment 65

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 130

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 23, 2022

a long-awaited (and debated) package of retirement plan reforms. Given the breadth of the changes and the anticipated regulatory efforts to implement the new law, virtually all qualified retirement plans will need to be reviewed in conjunction with SECURE 2.0’s The wait is over for SECURE 2.0, may be viewed here.

401(k) 108

401(k) Retirement Plan Taxes Finance 108

Money Talk

APRIL 28, 2022

Studies have found that, when people identify with their future selves , they save more money for retirement. A psychological connectedness to future selves informs present behavior. A key take-away, especially for healthy individuals and their families, is that HSAs can be used as a quasi-retirement plan.

401(k) 186

401(k) Health Savings Account Finance Retirement Plan 186

HR Lineup

MAY 10, 2023

The platform offers a wide range of benefits administration solutions, including health and wellness programs, retirement planning, and employee insurance plans. The platform also offers customizable communication tools, allowing employers to communicate with their employees about benefits and other important information.

401(k) 130

401(k) Insurance Carriers Retirement Plan Disability Insurance 130

Achievers

JUNE 6, 2022

Traditional offerings like health insurance and retirement plans are likely the first things that come to mind. 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.

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

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.

401(k) 97

401(k) Retirement Plan Finance Insurance 97

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. I recently attended a number of webinars about retirement planning. withholding, stealing, or restricting the use of money or financial information). Many have to settle for less.

401(k) 181

401(k) Taxes Retirement Plan Finance 181

HR Lineup

FEBRUARY 9, 2023

In addition to payroll, Justworks also offers a range of benefits management tools, including health insurance, 401(k) retirement plans, and other benefits. Another key aspect of Justworks is its compliance management tools, which help companies stay compliant with federal and state laws regarding HR and payroll.

401(k) 130

401(k) Payroll System Retirement Plan Payroll 130

Best Money Moves

JANUARY 31, 2023

Almost 4 in 10 employees say they’re not confident about reaching their retirement goals, according to a 2022 Bank of America report , and even more are unsure if they have enough savings to retire. Here are 3 ways to help all employees get prepared for life during retirement. Try Best Money Moves!

401(k) 119

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.

401(k) 186

401(k) Taxes Entertainment Retirement Plan 186

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.

401(k) 98

401(k) Retirement Plan Education Finance 98

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.

401(k) 52

401(k) Retirement Plan Banking Government 52

HR Lineup

DECEMBER 29, 2022

These include access to a wide range of health insurance plans, 401(k) retirement plans, and employee assistance programs. In addition to their customizable packages, Engage PEO also offers a range of benefits for their clients. Another key aspect of Engage PEO is their focus on compliance.

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401(k) Retirement Plan Health Insurance Professional Employer Organization 130

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.

Taxes 189

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

Money Talk

JANUARY 28, 2024

Without estate planning documents (e.g., My Will States Who Gets my IRA - Two of the largest assets for many people, life insurance and qualified retirement plans (e.g., 401(k) and 403(b) plans and IRAs) are transferred via beneficiary designation- not via a will.

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401(k) Banking Retirement Plan Life Insurance 152

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.

Taxes 125

Taxes 401(k) Retirement Plan Health Savings Account 125