Employee Benefit News

FEBRUARY 8, 2023

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401(k) 203

401(k) IT Retirement Plan Management 203

Proskauer's Employee Benefits & Executive Compensa

APRIL 18, 2022

On Friday, for the second week in a row, the Ninth Circuit reversed dismissal of a 401(k) plan excessive fee litigation challenging the offering of retail share classes of mutual funds instead of cheaper institutional share classes.

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401(k) Retail IT 108

International Foundation of Employee Benefit Plans

MAY 4, 2022

Last week, we shared five reasons why cryptocurrencies can present serious risks to 401(k) fiduciaries and participants. Read more > The post Cryptocurrency Guidance for 401(k) Plan Fiduciaries appeared first on Word on Benefits. Since then, there has been some confusion about fiduciary duties when it comes.

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401(k) Education Employee Benefits IT 98

HR Digest

FEBRUARY 13, 2022

To provide financial support, many employers think about 401K retirement plans a nd student loans. The post A Better 401(K) Is the Top Reason Why Workers Switch Jobs appeared first on The HR Digest. Emergency funds are almost empty and employees need some kinds of financial benefits to stay satisfied at work. .

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401(k) Retirement Plan Pension Work From Home 116

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 13, 2023

In a case of first impression in the Tenth Circuit, the Court recently joined the chorus of circuit courts in holding that a 401(k) plan participant alleging excessive investment management or recordkeeping fees must assert a “meaningful benchmark” in order to survive a motion to dismiss. The case is Matney v. Barrick Gold , No.

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401(k) Retirement Plan Government Management 109

HR Lineup

MARCH 10, 2022

Besides the 409A deferred compensation, there is also the qualified deferred compensation plan such as the 401(k)s. However, with a 401(k) maximum contribution of $22,500, representing 3% of his annual income, it is challenging to save enough for his retirement. What is a Non-Qualified Deferred Compensation Plan?

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401(k) Retirement Plan Deductible Deductions 246

Proskauer's Employee Benefits & Executive Compensa

APRIL 11, 2022

On Friday, the Ninth Circuit became the first circuit court to rule in a 401(k) plan fee and investment litigation following the Supreme Court’s January 2022 decision in Hughes v. Northwestern University , 142 S. 737 (2022). In Davis v. Salesforce.com, Inc., 21-15867 (9th Cir. A discussion of Hughes can be found on our blog here.

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401(k) Management IT 109

WEX Inc.

JUNE 13, 2024

How is your HSA vs. your 401(k) vs. your IRA shaping up for retirement planning? To help you prepare, here is a breakdown of three common retirement accounts: an HSA vs. a 401(k) vs. an IRA. A 401(k) is … A 401(k) is a retirement savings plan offered by many employers that provides tax advantages.

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401(k) Retirement Plan Health Savings Account Deductible 96

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. On March 10, 2022, DOL issued Compliance Assistance Release No. On March 10, 2022, DOL issued Compliance Assistance Release No.

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401(k) IT Retirement Plan Government 97

Money Talk

JUNE 5, 2024

This includes understanding characteristics and amounts of different categories of investments including retirement savings plans like IRAs and 401(k)s. Among the statistics that were presented from various studies are the following: ¨ 37% of women have high financial knowledge (vs. 52% of men) ¨ 48% of women (vs.

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401(k) Finance Taxes Utilities 313

BerniePortal

JUNE 1, 2022

Many firms like Fidelity Investments have been willing to bet on Bitcoin and other alternative currencies—at least as an offering for 401(k) plans. Citing employer’s “fiduciary responsibilities” under ERISA, the DOL’s cautionary stance on crypto investments has been particularly strong.

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401(k) Employment IT 98

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. Funds in an HSA can be rolled over indefinitely year after year and invested, much like a 401(k) plan. 7,750 for family coverage (up $450). Retirement plan maximums.

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401(k) Deductible Deductions Flexible Spending Account 98

Business Management Daily

FEBRUARY 23, 2022

Last year, the Department of Labor released a trio of documents advising employers with 401(k) plans about cybersecurity. The post The DOL makes 401(K) cybersecurity recommendations appeared first on Business Management Daily. Perhaps the DOL should secure its own computer systems first.

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401(k) Software Government Management 98

WEX Inc.

NOVEMBER 14, 2024

This makes HSAs appealing to many members who see them as a complement to their retirement savings , alongside their 401(k). Similar to a 401(k), you can make pre-tax contributions to your HSA and enjoy tax-free growth on your investments. You can’t participate in an HSA and a general-purpose medical FSA.

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401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

Best Money Moves

DECEMBER 4, 2024

Some employees have resorted to borrowing from their 401(k) to help make ends meet. Solution: Contribute to employees’ 401(k)s through match contributions To help employees stressed about money afford today’s expenses, many companies have invested in a match contribution program.

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401(k) Finance Education Employment 104

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., I recently taught a 90-minute personal finance class for women age 50+. Goals should be SMART (Specific, Measurable, Achievable, Relevant, and Time-related.

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401(k) Finance Entertainment Taxes 278

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

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.

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401(k) Retirement Plan Finance Government 245

HR Lineup

MARCH 13, 2022

Nonetheless, some common examples include: 401(k). What’s more, some 401(k) contributors may also be further eligible for tax credits. There are several ways individuals contribute to their retirement benefits. Some of these plans have an advantage when it comes to taxes. Types of Qualified Retirement Plans. 403(b) plans.

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Retirement Plan 401(k) Gross Pay Profit Sharing Plan 246

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 7, 2023

The day after Thanksgiving, while many of us were fortunate enough to be reaching for leftover pie, the IRS released proposed regulations implementing the requirement that 401(k) plan sponsors permit “long-term part-time employees” to make elective contributions to a 401(k) plan. Who is a long-term part-time employee?

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401(k) Retirement Plan Employment IT 94

HR Digest

OCTOBER 4, 2024

Along with Hobby Lobby’s current wage hike, the shopping chain also provides other fiscal and medical benefits like a medical and dental plan, 401(k) with generous company match, a flexible spending plan, life insurance, etc. It’s a good day to be a Hobby Lobby employee and wake up to the news of another wage hike.

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401(k) Retail Flexible Spending Life Insurance 96

InterWest Insurance Services

JANUARY 17, 2023

Besides health insurance and a 401(k) plan, other benefits that employees value highly are generous paid time off and flexible or remote work, according to a new survey. “A multi-generational workforce is a huge benefit for companies,” said Liz Ahmed, executive vice president of People and Communications at Unum.

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401(k) Health Insurance Insurance Voluntary Benefits 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 28, 2022

24, 2022) (discussed further here ), a Georgia federal district court held in favor of plaintiffs and declined to dismiss allegations that defendant’s 401(k) plan included costly and underperforming funds and charged excessive recordkeeping fees. Northwestern Univ. , 19-1401, 595 U.S.

401(k) 98

401(k) Retail Healthcare Management 98

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. When it comes to 2025 employee benefits trends , many companies are seeking innovative solutions to meet the changing needs of their workforce.

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Employee Benefits 401(k) Employment Health Savings Account 104

Money Talk

AUGUST 3, 2022

IRA, 401(k)/403(b) plans), suitable investments include stocks to be held a year or less, funds that generate significant short-term capital gains, and taxable bond funds. traditional IRAs and 401(k)/403(b) plans) where earnings are taxed at a future date, and tax-free investments where taxes are not due on earnings (e.g.,

Taxes 189

Taxes 401(k) Flexible Spending Account Deductible 189

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

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.

Taxes 245

Taxes 401(k) Deductible Deductions 245

Money Talk

JANUARY 18, 2023

401(k)s) and IRAs are pegged to inflation. Not surprisingly, much of the news was negative; e.g., soaring prices for food, gas, utilities, cars, insurance, and more. What often gets lost in conversations and media reports about inflation are the ways that some people can benefit from it.

401(k) 246

401(k) Banking Deductible Deductions 246

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. insurance premium) expenses.

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401(k) Pension Food Finance 159

Money Talk

APRIL 20, 2023

401(k), 403(b), 457 plan, and thrift savings plan), and other employer benefits (e.g., 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. health insurance). barn, silo, riding arena), farm equipment (e.g.,

401(k) 246

401(k) Pension Retirement Plan Taxes 246

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

Achievers

DECEMBER 16, 2019

A matching 401(k) or pension. “I don’t really care about my employee benefits,” said no employee ever. When it comes to employee benefits, if your business can offer it, employees want it. That’s the case for any employee benefit, from time off to healthcare to flexible work arrangements to workers’ comp insurance. Childcare support.

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Employee Benefits 401(k) PTO Benefits Package 309

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. Deferred annuities make payments at a future date and allow annuitants time to make deposits. Either type provides a guaranteed income stream subject to contract terms. Look for highly rated, low-expense vendors.

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401(k) Life Insurance Taxes Insurance 244

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. Who is going to get what you someday leave behind in life insurance policies and/or tax-deferred retirement accounts? 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

JUNE 16, 2022

Examples include a 401(k) or 403(b) plan and traditional IRA. Some older adults have a higher tax bracket when they were working which can trigger IRMAA Medicare premium surcharges and/or the net investment income tax (NIIT). “To Tax-exempt income is income that is free from federal income tax. a return of their own money).

Taxes 188

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. Required Minimum Distributions (RMDs) - Only IRAs and 403(b) plans (for school and non-profit sector employees) can be aggregated to calculate RMDs. saving and credit).

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401(k) Taxes Finance Education 196

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. Emphasize wellness in benefits offerings Most standard benefits packages include things like health insurance, a 401(k) retirement plan and PTO.

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Employee Wellness 401(k) PTO Retirement Plan 80