401(k) and Retirement Plan - Comp and Benefits Today

Is a Solo 401k a Good Idea?

HR Digest

AUGUST 28, 2023

Are you a self-employed individual or a small business owner looking for a retirement savings plan that offers flexibility and control? This mini-guide explores whether a solo 401k is a good idea for individuals like you. Making sound financial decisions is essential, especially when it comes to planning for your future.

401(k)

401(k) Retirement Plan Taxes Consulting

Safe harbor 401(k) vs. traditional 401(k): What’s the difference?

Genesis HR Solutions

NOVEMBER 18, 2020

If you’re a small business owner interested in starting a 401(k) plan for your employees, you already understand how they will benefit, but you should also understand how the plan will affect you. Sometimes, the traditional 401(k) plan doesn’t end up providing you the full benefit you’d hoped for.

401(k)

401(k) Salary Payroll Retirement Plan

A Better 401(K) Is the Top Reason Why Workers Switch Jobs

HR Digest

FEBRUARY 13, 2022

To provide financial support, many employers think about 401K retirement plans a nd student loans. People leave their workplaces because they are not satisfied with the retirement plan or they find better conditions somewhere else. The Great Resignation is a difficult situation nowadays.

401(k)

401(k) Retirement Plan Pension Work From Home

Pros & Cons Of Auto-enrolling Employees In A 401(k) Program

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)

401(k) Taxes Deductions Deductible

How to Conquer These 4 Top-of-Mind HR Challenges

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. And the ever-changing policies and laws can make cultivating a competitive employee benefits strategy feel impossible.

401(k)

Tenth Circuit Adopts “Meaningful Benchmark” Pleading Standard in Dismissing Challenges to 401(k) Plan Fees

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)

401(k) Retirement Plan Government Management

HSA vs. 401k vs. IRA: How do these retirement accounts stack up

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)

401(k) Retirement Plan Health Savings Account Deductible

Highlights From a Conference on Retirement Savings

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)

401(k) Retirement Plan Finance Government

Financial Planning Tips for Older Women

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.,

401(k)

401(k) Finance Entertainment Taxes

New HSA, FSA, 401(k) Contribution Levels Set

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)

401(k) Deductions Deductible Flexible Spending Account

Roth 401(k) vs. Roth IRA: What Is the Difference?

Patriot Software

OCTOBER 17, 2022

Are you thinking about offering retirement plans at your small business? There are a lot of retirement options to choose from. Two common retirement plans for employees are individual retirement arrangement/account (IRA) plans and 401(k) plans.

401(k)

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

Retirement and Taxes: "To" and "Through" Planning

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

Taxes 401(k) Retirement Plan Pension

California District Court Denies Motion to Dismiss 401(k) Excessive Fee and Underperformance Claims

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)

401(k) Retirement Plan IT

When Are Cryptocurrencies Appropriate Investments for Retirement Plans and IRAs?

McDermott Will & Emery Employee Benefits

JUNE 7, 2022

The US Department of Labor (DOL) recently issued guidance for the first time on the investment of retirement plan assets in cryptocurrencies. The post When Are Cryptocurrencies Appropriate Investments for Retirement Plans and IRAs? Compliance Assistance Release No. Compliance Assistance Release No.

Retirement Plan

Retirement Plan 401(k) Employee Benefits Commissions

What Is a Qualified Retirement Plan?

HR Lineup

MARCH 13, 2022

Some of these plans have an advantage when it comes to taxes. Types of Qualified Retirement Plans. There are three classes of qualified retirement plans, namely: 1. Defined benefits plan. In a defined benefit plan, an employer pays a predetermined amount at either termination of employment or retirement.

Retirement Plan

Retirement Plan 401(k) Gross Pay Profit Sharing Plan

Can Farmers Ever Afford to Retire?

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)

401(k) Pension Retirement Plan Taxes

Ten Upsides of Inflation

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 pay increase may or may not cover all of their increased expenses, but it is better than no increase. When inflation rises, workers can save more money.

401(k)

401(k) Banking Deductible Deductions

401(k) Contribution Limits 2025, Plus IRA Contribution Limits & More [Chart]

Patriot Software

NOVEMBER 27, 2024

How much can employees contribute to their retirement plans? Whether investing in a 401(k), IRA, or another retirement plan, you and your team should understand the rules and limits for 2025. Use our quick-reference chart to learn 401(k) contribution limits 2025, IRA contribution limits, and more.

401(k)

401(k) Retirement Plan Deductible Deductions

Individual Retirement Accounts: What You Need to Know

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.

401(k)

401(k) Taxes Retirement Plan Pension

How HSAs can transform retirement planning and your common questions

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

Retirement Plan 401(k) Health Savings Account Taxes

Cryptocurrency in 401(k) Plans? Might be More Like “Crypto-nite,” Says the DOL in Its Latest Release

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)

401(k) IT Retirement Plan Government

Annuity Myths and Facts

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.

401(k)

401(k) Life Insurance Taxes Insurance

Safe Harbor 401(k) Plan: How to Maximize Your Small Business’s Savings

Patriot Software

JULY 11, 2022

In the United States, the most common type of retirement plan is the trusty 401(k). trillion in assets, businesses of all sizes offer this type of plan to help their employees save for the retirement they deserve. However, not all 401(k)s are the same. While […] READ MORE.

401(k)

401(k) Retirement Plan Payroll

From Starbucks to cash cards, small perks can boost 401(k) enrollment

Employee Benefit News

JANUARY 18, 2024

Retirement plan sponsors and advisers receive guidance from the IRS on how to legally incentivize plan participation.

401(k)

401(k) Retirement Plan

What's missing from retirement planning? Oftentimes, it's access

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

Retirement Plan 401(k) IT Healthcare

How to get Gen Z and millennials excited about retirement planning

Employee Benefit News

APRIL 24, 2024

Treating student loan payments as eligible for a 401(k) match will help young employees save for retirement while staying on top of their debt.

401(k)

401(k) Retirement Plan Employee Benefits

Rolling the Dice on Crypto in Retirement Plan

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

Retirement Plan 401(k) Banking Education

Keep Track of Your Beneficiaries

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.

401(k)

401(k) Life Insurance Retirement Plan Finance

IRS Proposes 401(k) Plan Regulations Implementing Long-Term Part-Time Employee Eligibility Requirements

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)

401(k) Retirement Plan Employment IT

5 ways you can help employees prepare for retirement

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)

401(k) Retirement Plan Deductible Deductions

ESOPs and 401(k)s: A Comparative Guide

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)

401(k) Retirement Plan Taxes Employment

What is a 401(k) Plan and How Does it Work?

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.

401(k)

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

How to get Gen Z and millennials excited about retirement planning

Employee Benefit News

APRIL 24, 2024

Treating student loan payments as eligible for a 401(k) match will help young employees save for retirement while staying on top of their debt.

401(k)

401(k) Retirement Plan Employee Benefits

SECURE 2.0 Act Financial Planning Opportunities in 2023 and Beyond

Money Talk

JULY 13, 2023

Act of 2022 , passed last December, has financial planning opportunities for both the accumulation and distribution phases of retirement planning. New Catch-Up Limit - Currently, additional catch-up savings ($7,500 in 2023) in employer retirement plans is available for workers age 50+. The SECURE 2.0

401(k)

401(k) Retirement Plan Taxes Salary

Americans don’t have access to retirement plans

HR Digest

JULY 19, 2019

One way to get started is by contributing a part of your paycheck directly into your employer’s 401(k) plan. If they don’t offer one, then you look into other retirement savings vehicles such as Roth IRA or traditional IRA. The post Americans don’t have access to retirement plans appeared first on The HR Digest.

Retirement Plan

Retirement Plan 401(k) IT

Tax-Deferred Retirement Savings Plans in Later Life

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

Taxes 401(k) Retirement Plan Pension

Notice 2024-02: IRS Offers Guidance on (Some) SECURE 2.0 Questions

Proskauer's Employee Benefits & Executive Compensa

JANUARY 16, 2024

requires that 401(k) plans established after December 28, 2022, implement automatic enrollment provisions for plan years starting after December 31, 2024. Plan sponsors had questioned how the “establishment date” would apply in the context of plan mergers and spin-offs. Merger of Pre-SECURE 2.0

401(k)

401(k) Taxes Retirement Plan Employment

How the SECURE 2.0 Act of 2022 benefits your workplace

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

401(k)

401(k) Retirement Plan Taxes Benefits Package

Top 10 Employee Benefits Certifications for Professionals in 2024

HR Lineup

OCTOBER 21, 2024

Administered by the International Foundation of Employee Benefit Plans (IFEBP) and Dalhousie University, this program provides a comprehensive education on employee benefits, retirement plans, and health benefits. Key Benefits: Comprehensive coverage of group benefits, retirement plans, and compensation.

401(k)

401(k) Employee Benefits Retirement Plan Health Savings Account

The Multiemployer Retirement Plan Landscape: DC Takeaways

International Foundation of Employee Benefit Plans

AUGUST 1, 2024

According to The Multiemployer Retirement Plan Landscape: A 15-Year Look (2006-2020), the average defined contribution (DC) plan account balance increased from $23,400 at the end of 2006 to $54,100 at the end of 2020, while aggregate disbursements also grew.

Retirement Plan

Retirement Plan 401(k)

4 Retirement Plan Features You Need to Consider

Patriot Software

APRIL 3, 2023

Offering a retirement plan comes with a host of benefits, including generous 401(k) tax credits, while also serving as a potent tool for recruiting and retaining top talent. There are also unique benefits that come from integrating your 401(k) plan with your payroll provider.

Retirement Plan

Retirement Plan 401(k) Payroll Taxes

Last-Minute Guidance Leaves Little Time for Long-Term, Part-Time Employee Changes

McDermott Will & Emery Employee Benefits

DECEMBER 20, 2023

The Internal Revenue Service (IRS) recently issued new guidance clarifying key aspects of the broadened retirement plan eligibility rule for long-term, part-time employees under the SECURE 2.0

401(k)

401(k) Retirement Plan Employee Benefits Employment

Half of Gen X has done no retirement planning, study says

Employee Benefit News

DECEMBER 16, 2024

Having missed out on yesterday's pensions and today's 401(k) features, the latchkey generation is woefully unprepared for retirement. Here's how advisors can help.

401(k)

401(k) Retirement Plan Pension

How Retirement Plan Vesting Schedules Can Improve Employee Retention

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

Retirement Plan 401(k) Employee Retention Bonuses

Is a Solo 401k a Good Idea?

Safe harbor 401(k) vs. traditional 401(k): What’s the difference?

Trending Sources

A Better 401(K) Is the Top Reason Why Workers Switch Jobs

Pros & Cons Of Auto-enrolling Employees In A 401(k) Program

How to Conquer These 4 Top-of-Mind HR Challenges

Tenth Circuit Adopts “Meaningful Benchmark” Pleading Standard in Dismissing Challenges to 401(k) Plan Fees

HSA vs. 401k vs. IRA: How do these retirement accounts stack up

Highlights From a Conference on Retirement Savings

Financial Planning Tips for Older Women

New HSA, FSA, 401(k) Contribution Levels Set

Roth 401(k) vs. Roth IRA: What Is the Difference?

Retirement and Taxes: "To" and "Through" Planning

California District Court Denies Motion to Dismiss 401(k) Excessive Fee and Underperformance Claims

When Are Cryptocurrencies Appropriate Investments for Retirement Plans and IRAs?

What Is a Qualified Retirement Plan?

Can Farmers Ever Afford to Retire?

Ten Upsides of Inflation

401(k) Contribution Limits 2025, Plus IRA Contribution Limits & More [Chart]

Individual Retirement Accounts: What You Need to Know

How HSAs can transform retirement planning and your common questions

Cryptocurrency in 401(k) Plans? Might be More Like “Crypto-nite,” Says the DOL in Its Latest Release

Annuity Myths and Facts

Safe Harbor 401(k) Plan: How to Maximize Your Small Business’s Savings

From Starbucks to cash cards, small perks can boost 401(k) enrollment

What's missing from retirement planning? Oftentimes, it's access

How to get Gen Z and millennials excited about retirement planning

Rolling the Dice on Crypto in Retirement Plan

Keep Track of Your Beneficiaries

IRS Proposes 401(k) Plan Regulations Implementing Long-Term Part-Time Employee Eligibility Requirements

5 ways you can help employees prepare for retirement

ESOPs and 401(k)s: A Comparative Guide

What is a 401(k) Plan and How Does it Work?

How to get Gen Z and millennials excited about retirement planning

SECURE 2.0 Act Financial Planning Opportunities in 2023 and Beyond

Americans don’t have access to retirement plans

Tax-Deferred Retirement Savings Plans in Later Life

Notice 2024-02: IRS Offers Guidance on (Some) SECURE 2.0 Questions

How the SECURE 2.0 Act of 2022 benefits your workplace

Top 10 Employee Benefits Certifications for Professionals in 2024

The Multiemployer Retirement Plan Landscape: DC Takeaways

4 Retirement Plan Features You Need to Consider

Last-Minute Guidance Leaves Little Time for Long-Term, Part-Time Employee Changes

Half of Gen X has done no retirement planning, study says

How Retirement Plan Vesting Schedules Can Improve Employee Retention

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