WEX Inc.

NOVEMBER 21, 2024

Retirement savings With retirement top-of-mind for many, companies are increasing their focus on retirement savings options. Beyond the traditional 401(k) match , some employers are introducing student loan repayment matching , helping employees reduce debt while saving for retirement.

Employee Benefits 104

Employee Benefits 401(k) Employment Health Savings Account 104

Genesis HR Solutions

JANUARY 30, 2023

Should you auto-enroll your employees into your company’s 401(k) program? Automatic enrollment is exactly what it sounds like—you, the employer, automatically enroll your employees into your organization’s 401(k) plan. The 401(k) is pre-tax. What is automatic enrollment?

401(k) 97

401(k) Taxes Deductible Deductions 97

WEX Inc.

JUNE 13, 2024

How is your HSA vs. your 401(k) vs. your IRA shaping up for retirement planning? Retirement planning is a lot easier when you imagine what you want it to be like. Will you retire in Florida, or at a cabin in the woods? Employers can also contribute to their employees’ HSAs.

401(k) 96

401(k) Retirement Plan Health Savings Account Deductible 96

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.

401(k) 109

401(k) Retirement Plan Government Management 109

Money Talk

APRIL 6, 2023

At the 2022 Retirement Summit sponsored by the Employee Benefit Research Institute (EBRI), there were four main topics: improving individuals’ access to retirement savings plans, reducing plan leakage (i.e., Savings Fosters Success - Studies have shown that just being in the retirement system in some capacity (e.g.,

401(k) 245

401(k) Retirement Plan Finance Government 245

Money Talk

MARCH 24, 2022

About 90% of women will need to manage money alone at some point in their lives. ¨ “Through Retirement” Goals- Working age women often focus on “to retirement” goals (e.g., 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.,

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401(k) Finance Entertainment Taxes 278

Employee Benefit News

FEBRUARY 8, 2023

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401(k) IT Retirement Plan Management 203

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

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

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.

401(k) 97

401(k) IT Retirement Plan Government 97

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. Not surprisingly, much of the news was negative; e.g., soaring prices for food, gas, utilities, cars, insurance, and more. When inflation rises, workers can save more money.

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401(k) Banking Deductible Deductions 246

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).

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401(k) Pension Retirement Plan Taxes 246

Money Talk

APRIL 11, 2024

One of the few things that taxpayers can do to reduce their income taxes after a calendar year ends is to make a tax-deductible contribution to a traditional individual retirement account (IRA) or a SEP-IRA (for small business owners and/or their employees). Tax planning involves looking ahead and projecting future income and tax write-offs.

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401(k) Taxes Retirement Plan Pension 185

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

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

HR Digest

MARCH 28, 2023

Having a retirement plan is an important aspect of financial planning. One popular way to get your retirement plan sorted in the United States is through a 401(k) plan. A 401(k) plan is a type of retirement account offered by employers to their employees.

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401(k) roth 401(k) Retirement Plan IT 64

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.

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401(k) Retirement Plan IT 110

Money Talk

JUNE 22, 2023

Who is going to get what you someday leave behind in life insurance policies and/or tax-deferred retirement accounts? Beneficiary designations are important estate-planning tools and should not be overlooked to make sure your hard-earned money gets passed down to those you select to receive it.

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401(k) Life Insurance Retirement Plan Finance 235

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

HR Digest

OCTOBER 14, 2021

An increasing number of employees now have access to cryptocurrencies like Bitcoin in their 401(k) plans. The digital currency revolution has been happening for years now, but many people still don’t know what Bitcoin is or how it should be handled in their 401k plan. Advantages of 401(K) crypto investments.

401(k) 59

401(k) Taxes Retirement Plan Employment 59

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.

401(k) 133

401(k) Retirement Plan Deductible Deductions 133

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. Here’s an example.

401(k) 94

401(k) Retirement Plan Employment IT 94

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.

Employee Wellness 80

Employee Wellness 401(k) PTO Retirement Plan 80

HR Digest

MAY 13, 2023

Employee Stock Ownership Plans (ESOPs) and 401(k) plans are both popular retirement savings plans, but there are some key differences between the two. This article compares ESOPs and 401(k)s in terms of funding, investment options, risk, tax benefits, and other factors.

401(k) 52

401(k) Retirement Plan Taxes Employment 52

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

HR Digest

JULY 19, 2019

Only 17% of respondents say they have between $1 and $74,999 kept away for retirement, which falls short of the $1 million experts recommend. Furthermore, only 10% of respondents are confident that they’ll have enough earmarked for retirement. The post Americans don’t have access to retirement plans appeared first on The HR Digest.

Retirement Plan 87

Retirement Plan 401(k) IT 87

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

Insperity

OCTOBER 10, 2023

At its most basic level, the law encourages people to not only save money for retirement , but to save more and also become financially stable in the present. To do this, the law makes broad changes to the foundation of retirement preparation in the U.S.: employer-sponsored 401(k) plans. The SECURE 2.0

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401(k) Retirement Plan Taxes Benefits Package 113

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

Proskauer's Employee Benefits & Executive Compensa

JANUARY 16, 2024

Although Notice 2024-02 offers helpful guidance for employers and plan administrators, it does not include hotly anticipated guidance on SECURE 2.0 requires that 401(k) plans established after December 28, 2022, implement automatic enrollment provisions for plan years starting after December 31, 2024.

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401(k) Taxes Retirement Plan Employment 111

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). Designate a Day - Select one day a year as your personal “financial planning day.” 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

Money Talk

DECEMBER 22, 2021

Some indexes adjust annual limits related to financial planning for inflation, some adjust interest earned or paid by consumers, and others measure the performance of something relative to a benchmark indicator. Tax-Deferred Retirement Plan Limits - Like IRAs, maximum plan contributions are indexed for inflation.

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401(k) Pension Taxes Deductible 232

Griffin Benefits

JUNE 16, 2024

Used effectively, the vesting schedules in your retirement plans (401k, 403b, deferred compensation, and 457, to name a few) can be an excellent tool employers can use to improve employee retention. WHAT IS A RETIREMENT PLAN VESTING SCHEDULE AND HOW DOES IT IMPROVE EMPLOYEE RETENTION?

Retirement Plan 52

Retirement Plan 401(k) Employee Retention Bonuses 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). Advance planning with a professional tax advisor is recommended.

401(k) 189

401(k) Taxes Retirement Plan Finance 189

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