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.

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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.

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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. This is a mistake.

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Money Talk

MARCH 15, 2023

Examples include surrender charges, sales commissions (loads), management fees, and mortality charges. What Not to Do - Annuities are generally not appropriate for qualified retirement plans such as 401(k)s or IRAs. Annuity salespeople sometimes convince people there are no fees but, of course, there are.

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401(k) Life Insurance Taxes Insurance 244

Employee Benefit News

FEBRUARY 8, 2023

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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. How old and self-sufficient are they?

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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

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. But you managed your investments and you absorbed the losses.

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401(k) Retirement Plan Deductible Deductions 133

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. This means it is held in code, on computers instead of in banks and there is no central body managing the value of it like our government does with the US Dollar. By Jim Trujillo.

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Retirement Plan 401(k) Banking Education 98

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. Educational resources for further wellness-related education and guidance, such as general tips on nutrition, exercise and stress management. Weight-management programs.

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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. Beneficiary types include a spouse, non-spouse (e.g.,

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Taxes 401(k) Retirement Plan Pension 194

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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Money Talk

FEBRUARY 10, 2022

After work, commuting, eating, sleeping, and/or exercise, many people have less than five hours on a typical weekday to manage everything in their life, including personal finances. Invest Automatically at Work - Participate in a tax-deferred employer retirement plan (e.g. 401(k), 403(b), 457, or TSP).

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401(k) Finance Taxes Retirement Plan 189

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?

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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. The tool provides users with interactive graphs and charts to help them visualize their retirement progress and adjust their goals as needed.

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Money Talk

DECEMBER 22, 2021

Tax-Deferred Retirement Plan Limits - Like IRAs, maximum plan contributions are indexed for inflation. In 2022, retirement savers in 401(k)/403(b)/457 plans and the federal Thrift Savings Plan (TSP) who are under age 50 can contribute up to $20,500, a $1,000 increase from $19,500 in 2021.

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COMPackage

NOVEMBER 3, 2024

Benefits: A detailed breakdown of employer-sponsored benefits like health insurance, paid time off (PTO), retirement plans, and wellness programs. The information relevant for an hourly customer service representative will differ from that of a salaried marketing manager.

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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.

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401(k) Retirement Plan Finance Insurance 97

HR Digest

FEBRUARY 8, 2023

If you’ve ever wondered what happens to your 401(K) when you leave a job, you’re not alone. In fact, it’s one of the most common questions employees ask when they intend to leave their jobs and make a 401(K) withdrawal. So what happens to your 401(K) when you quit or are fired?

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 24, 2023

A district court in New York recently dismissed a putative class action challenging retirement plan recordkeeping and investment management fees. District Court for the Southern District of New York, alleging that it violated ERISA in its management of both a 401(k) plan and a profit-sharing plan.

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401(k) Profit Sharing Plan Retirement Plan Management 109

Best Money Moves

JANUARY 31, 2023

When it comes to retirement benefits, employees are looking for more than just a 401(k) — they want comprehensive guidance on how to prepare for the future. Here are 3 ways to help all employees get prepared for life during retirement. Educate employees Social Security, Medicare and other retirement benefits.

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HR Digest

MARCH 12, 2025

Financial Incentives Beyond salaries, employers might offer retirement plans (e.g., 401(k) matching), stock options, or performance bonuses. A 2023 survey by the Society for Human Resource Management found that 68% of employees would choose a job with better benefits over a higher salary, underscoring their growing clout.

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HR Lineup

DECEMBER 29, 2022

Their services include payroll, benefits, HR management, and compliance support, allowing businesses to outsource these tasks and focus on their core operations. These include access to a wide range of health insurance plans, 401(k) retirement plans, and employee assistance programs.

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HR Lineup

FEBRUARY 9, 2023

The platform offers a suite of tools and services to help companies manage their employees, benefits, payroll, compliance, and more. In addition to payroll, Justworks also offers a range of benefits management tools, including health insurance, 401(k) retirement plans, and other benefits.

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Business Management Daily

APRIL 1, 2022

Figuring that defined-contribution plans such as 401(k)s weren’t nearly secure as they should be after the passage of the Setting Every Community Up for Retirement Enhancement Act of 2019, Congress is taking another stab at it with the Securing a Strong Retirement Act of 2021 (H.R. Church plans. SECURE 1.0’s

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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.

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Achievers

JUNE 6, 2022

Traditional offerings like health insurance and retirement plans are likely the first things that come to mind. Whether it’s the precise match your organization offers for a 401k or how paid time off is calculated, benefits come with their share of complexity. What do you think of when employee benefits are mentioned?

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Business Management Daily

SEPTEMBER 16, 2022

Technically, 401(k) plans are profit-sharing plans, not retirement plans. But they morphed into retirement plans long ago, so they’re pretty important to employees. Who has 401(k) accounts? of employees participate in defined-contributions plans such as 401(k) plans.

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Business Management Daily

FEBRUARY 18, 2022

The Employee Benefits Security Administration has had an on-again, off-again approach to whether employers can allow 401(k) investment choices to promote social, environmental, or other public policy causes—called economically targeted investments or sometimes environmental, social, or governance investing.

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 30, 2023

IRS regulations have established standards for plans to approve financial hardships and a safe harbor for six types of hardships automatically considered to create an immediate and heavy need. Historically, the Code restricted 403(b) plans more than 401(k) plans in terms of the contributions and earnings available for hardship withdrawal.

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Empuls

AUGUST 28, 2024

Employee benefits providers are organizations that specialize in designing, administering, and managing employee benefits packages on behalf of employers.    These providers handle the complex tasks of negotiating with insurance companies, managing enrollment processes, and ensuring compliance with regulations.

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Genesis HR Solutions

JUNE 21, 2022

When we talk to prospective clients about our PEO’s retirement plans, they’re sometimes skeptical about the value of using them, especially if they already have their own plans in place. They wonder: Is switching to a PEO’s retirement plan worth it? as long as it’s within the plan scope we offer.

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HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” 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.

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Proskauer's Employee Benefits & Executive Compensa

JULY 21, 2022

The Sixth Circuit recently issued a mixed opinion in a 401(k) plan investment litigation. District Court for the Southern District of Ohio, alleging that the TriHealth 401(k) plan fiduciaries breached their duties of prudence and loyalty in connection with plan management.

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401(k) Retail Retirement Plan Management 98

HR Lineup

JANUARY 9, 2023

OnPay is a cloud-based payroll and HR solution designed to simplify and streamline the process of managing payroll, benefits, and HR tasks for small to medium-sized businesses. With OnPay, businesses can easily track employee time, process payroll, and manage employee benefits all in one place. Automated Payroll Taxations.

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Empuls

AUGUST 30, 2024

While traditional benefits include health insurance, retirement plans, and paid time off, perks are often more varied and tailored to improve employees’ overall work experience.    On-site childcare : Providing on-site childcare facilities helps parents manage their work and family commitments more effectively. 

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Proskauer's Employee Benefits & Executive Compensa

JULY 6, 2022

In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss. Northwestern University , 142 S. 737 (2022), and two district courts dismissed similar claims. The Sixth Circuit’s Decision.

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