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International Foundation of Employee Benefit Plans
NOVEMBER 18, 2022
Court affirms judgment in favor of the defendant employer related to the award of 401(k) benefits to a former employee’s ex-husband. The post Legal & Legislative Reporter: Distribution of 401(k) Benefits to Ex-Husband appeared first on Word on Benefits.
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. Pay Yourself First (PYF)- PYF treats savings with the same high priority as a mortgage, rent, or car loan payment. and the “Ballpark Estimate” calculator on the Web site www.asec.org.
International Foundation of Employee Benefit Plans
JANUARY 18, 2023
Read more > The post Magazine Extra: Benefits Touch Points—Communicating When It Matters appeared first on Word on Benefits. As a benefits professional, you often wear many hats, and communications could be one of the more challenging roles you encounter. You’re required to not only inform but inspire employees.
employer-sponsored 401(k) plans. Act seeks to: Open access to 401(k) retirement plans to more people Provide greater opportunities to save Offer financial incentives to save while removing common barriers and penalties So, what does the law require of employers? The SECURE 2.0 The SECURE 2.0 The SECURE 2.0 The SECURE 2.0
Whether you’re concerned about adapting to new pay transparency laws, managing global benefits packages, return-to-office mandates, or 401(k) and retirement planning strategies, we’ve got you covered.
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.
These things have become so commonplace that employees expect them, such as: Health insurance Dental insurance Paid vacation and sick days 401(k) retirement plan Disability insurance Life insurance Workers’ compensation Unemployment insurance.
A 401(k) retirement plan is an important benefit that your company pays to provide for employees – and you want to make sure that they know how to take full advantage of it for their financial well-being and future security. Increase company contributions to retirement planning.
Magazine’s November 2018 issue. . Glink and her husband, Sam, have been saving 20 to 25 percent of their income since they started working, so they have substantial 401(k) assets. Originally posted in Inc. Thinking about starting a business later in your career? The statistics can be off-putting.
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. By Jim Trujillo. I can tell you; it is not a pretty sight.
Bill is also writes an informative monthly column on technology for Human Resource Executive magazine. He brought all the stakeholders into a room and asked, ‘What data elements are we already tossing over the wall to third-party insurance providers, 401(k) providers, Flexible Spending Account managers, COBRA administrators, etc.?’.
Download our free magazine, The Insperity guide to HR outsourcing. Among their many valuable benefits, in-house HR teams and PEOs play an important role in directly impacting some of the major factors influencing employees’ decisions to leave or stay, as well as supporting management in deploying a successful employee retention strategy.
For example, a 401(k) allows for pre-tax deductions, saving you and your employees money by reducing your payroll taxes and their taxable income. Not ready for a 401(k)? Company-sponsored: If you choose to offer a 401(k), employees can contribute up to $20,500 for 2022.
This includes: Retirement account (401(k)) Health insurance (along with dental and vision insurance) Paid time off (PTO) Life insurance Disability insurance. There may be a large pool of willing contractors and temp workers right now, but those conditions can swiftly change. Expanded employee benefits.
If your company doesn’t offer any health care benefits or a 401(k), that should be clearly stated in the initial screening call. Download our free magazine, Building a Better Team: How to Attract, Recruit and Hire Top Talent. Preparation is the key to success. Keep your hiring process hassle-free.
International Foundation of Employee Benefit Plans
DECEMBER 27, 2024
Its become easier for plan participants to take distributions from their defined contribution (DC) retirement plan account balances, but plan sponsors still have a fiduciary duty to ensure that the need for these distributions is real.
Common options include: Opportunities to work remotely Flexible schedules Generous paid time off (PTO) Education or certification reimbursement Bonuses 401(k) Stock options Profit-sharing opportunities High-quality insurance coverage Relocation assistance Unique on-site amenities at your office, such as fitness facilities or catered lunch 3.
We help Employees prepare for retirement with a generous 401K match and ProfitSharing. This article was published in the April 2019 issue of The HR Digest magazine. Our Employee First philosophy and commitment to providing a stable work environment has also resulted in job security, competitive pay and exceptional benefits.
Common options include: Opportunities to work remotely Flexible schedules Generous paid time off (PTO) Education or certification reimbursement Bonuses 401(k) Stock options Profit-sharing opportunities High-quality insurance coverage Relocation assistance Unique on-site amenities at your office, such as fitness facilities or catered lunch.
For example, a Baby Boomer on the precipice of retirement may be driven more by money: Salary increases, 401(k) contributions or bonuses. For more information on how to help your team work better together despite the differences of individuals, download our free magazine: The Insperity guide to leadership and management.
Most survey respondents (96%) sponsor a defined contribution plan in the form of either a 401(k) or 403(b). When it comes to plan types and designs, survey results are in line with trends we’ve seen in recent years.
This stat is proving that employees know how to use a 401(k) to save but have no idea what happens with it once they hit retirement and instead of adding to it need to take from it. That same survey also showed that 86% of American’s want help understanding how to generate a stream of income in retirement.
defined contribution (DC) plans include 401(k) plans, 403(b) plans, employee stock ownership plans, and profit-sharing plans. In this type of plan, it is the annual contribution that is known and the ultimate benefit at retirement depends on the investment performance of the account. Examples of.
International Foundation of Employee Benefit Plans
APRIL 16, 2024
Many years ago, I visited Grand Canyon National Park with my mom and aunt. It was unseasonably hot, but I wanted to walk down into the canyon on the Bright Angel Trail. My companions were not up for the hike, so I […] The post Educating DC Plan Participants for the Long Hike to Retirement appeared first on Word on Benefits.
Contribute to retirement accounts such as 401(k) or Individual Retirement Accounts (IRAs) Ensure you have adequate insurance coverage, including health, life, and disability insurance Explore opportunities to diversify your sources of income. Prioritizing learning might then be the perfect goal for you.
The right fiduciaries can help you set up HSA and even 401k plans for a few dollars per employee per month, and the setup and administration are easy. Sticking with the higher premium could make more sense. Then give employees a chance to contribute to an HSA or HRA account to make the deductible “feel” lower. Are you offering telehealth?
Today’s candidates are interested in salary range and traditional benefits like a 401(k) and health insurance. Download our free magazine: The Insperity guide to attracting, recruiting and hiring top talent. If not, including a clear employer brand message may boost the number of candidates who apply.
As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide. At its most basic level, a 401(k) plan allows employees to save for their personal retirement needs.
Beneficiaries for insurance, 401(k) benefits, and any other benefits. Whether you want to stay up-to-date on HR news, read in-depth HR articles, or find new ideas on strategy, innovation, and leadership, The HR Digest Magazine is here to suit your needs and help you stay more informed. Have them specifically review: Name change.
In a 401(k) plan, the most common type of retirement plan, employees can save up to a certain amount set by the U.S. To learn more about building an employee benefits strategy and becoming an employer of choice, download your free magazine: The Insperity guide to employee benefits. Internal Revenue Service (IRS) each year.
401(k), 403(b), TSP). Ways to do this include books, newspapers and magazines, blogs, podcasts, seminars, social media platforms, and traditional media outlets (e.g., Diversify x 3 (D3)- Diversify investments three ways: 1. Investment diversification (different asset classes; e.g., stocks, bonds, and cash), 2.
This includes: Retirement account (401(k)) Health insurance (along with dental and vision insurance) Paid time off (PTO) Life insurance Disability insurance But benefits that would’ve been less common a few years ago have skyrocketed in popularity with employees.
Subscribe to Magazines and Newsletters ChatGPT might provide some solid career advice, but at the end of the day, it is inauthentic and artificially generated. Read what they have to say and identify 2 to 3 magazines that feel worthwhile to stay periodically informed.
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