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As 2024 winds down next week, its time for my final quarterly summary of take-aways from recent personal finance classes, conferences, and webinars that I attended. Below are some nuggets that you might find useful in your personal financial planning: Offense and Defense- Financial offense involves earning money from one or more sources (e.g.,
I recently attended three webinars related to retirementplanning. One discussed required minimum distribution (RMD) rules, the second, retirementplanning in general, and the third, the FIRE ( F inancial I ndependence, R etire E arly) movement. I watch about a dozen personal finance webinars each month.
As I mentioned in three previous posts , I love learning new things and often attend webinars and podcasts to gain knowledge and/or continuing education credits for my CFP® and AFC® as well as to connect virtually with others. Alternatives to generate cash include savings that is not in a retirementplan (if any), employer assistance (e.g.,
One of my Money Talk clients is my long-time employer, Rutgers Cooperative Extension. In addition to writing monthly Small Steps to Health and Wealth™ financial messages , I also present online webinars and class segments. My segment of their six-week class series was called Can Farmers Ever Afford to Retire? health insurance).
With more employees choosing to work beyond age 65, HR leaders are increasingly being called upon to guide aging employees through one of the most complex transitions in their professional lives - from employer sponsored plans to Group Medicare. Activity IDs cannot be provided to those who view the webinar recording.
To achieve this, employers should create a comprehensive well-being program that addresses both physical and mental health, encourage a culture where taking sick leave is not stigmatized, ensure workloads are manageable, and promote work-life balance through flexible working hours.
For employers, the right financial benefits help attract talent and keep their workforce satisfied. However, despite these concerns, financial wellness programs may go overlooked among the other, more common benefits an employer may provide. We have robust benefits options for employers, regardless of their benefits budget.
If you picture retirementplanning 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.
Alongside this, it improved its offer to employees through the defined contribution (DC) scheme, including increasing the core employer contributions significantly and introducing additional matched contributions up to 12%. The post Howdens provides staff with valuable retirement-planning tools appeared first on Employee Benefits.
I recently attended a Financial Planning Association (FPA) webinar about traditional and Roth IRAs presented by Ed Slott , a nationally recognized expert on IRAs and frequent presenter at conferences for financial advisors. 401(k), 403(b), 457, or Thrift Savings Plan). There is no way out. tax bracket was over 90%.
Methods include webinars, podcasts, blogs, television and radio shows, print media, websites, and more. Health Savings Accounts - One study found that the tax savings on many employees’ contributions to a health savings account (HSA) increases wealth by more than an employer match on the same employees’ 401(k) contributions.
Provisions of the […] The post Webinar Replay: New Employee Benefits Requirements for Part-Time Employees, Independent Contractors appeared first on EMPLOYEE BENEFITS BLOG. If you employ part-time workers and/or engage independent contractors, sit up and take note: 2024 brings significant changes to how you must manage your workforce.
Employers cannot afford to bank on an improving economy reducing employee financial stress. Of that group, only about half (54%) believe there is a promising future for them at their employer, compared to 69% who feel more financially secure. Many employers offer matching contributions.
The Society for Human Resources Management’s (SHRM) express request service provides links and information about a wide variety of topics including state laws, seasonal topics like OSHA 300 postings, IRS RetirementPlan Limits, etc. Attend webinars and conferences. banking, hospitality, retail, etc.)
I recently attended several webinars and listened to several podcasts about issues related to retirementplanning and personal finance issues in later life. According to the EBRI RCS, 46% of the retiree subsample said that they retired earlier than planned and 6% retired later. It is mostly a “full stop.”
Schedule workshops or webinars to break down complex topics like: Health savings accounts (HSAs) Flexible spending accounts (FSAs) Retirementplanning options Emphasize the total rewards picture Highlight how your benefits program fits into your companys total rewards strategy.
This software can be used by individuals seeking to improve their personal finances or by employers looking to support the financial wellness of their employees. It empowers users to make informed financial decisions through interactive lessons, budgeting tools, and retirementplanning calculators.
Best Money Moves Sneak Peek: 2023 Financial Webinar Series. Get an inside look into Best Money Moves and catch a free preview of our 2023 Financial Webinar series. Best Money Moves takes financial education to the next level with free, monthly Webinars available to all users.
This encompasses both work-related benefits such as understanding how to maximize employer contributions into their 401(k)s or choosing the right investment options when it comes to their pension plans as well as learning how to manage their personal finances in more efficient and effective ways.
Employers could offer support through a midlife MOT, which provides a health and financial career check to help employees plan for retirement. Pre-retirement coaching can help to educate older employees on how to prepare for life away from work. But what benefits can employers offer to support the ageing workforce?
Employees are increasingly relying on their employers for financial wellness support and guidance. For instance, some companies host financial webinars and events on topics that resonate with women, like planning financially for pregnancy or a wedding. 3 ways to boost women’s financial literacy: 1.
Employers can offer financial wellbeing support based on which benefits are most frequently used, which will highlight prevalent financial issues among employees. As employers often have wide-ranging demographics that have varying preferences and needs, different communication methods will be required for each group.
Retirementplans Basically, it is the retirementplans—401(k) or pension plans—through which an employee receives financial security during service years other than while serving. Professional development These may include an educational stipend, mentorship programs, and training opportunities.
So, what can employers do to address these mostly external factors that can impact employee wellbeing? Financial health is a significant concern in the relationship between employers and employees. It is your responsibility as an employer to proactively address employee wellbeing. This is what a culture of wellness is all about.
Employers will be allowed to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new salary threshold. I was reminded of this during a Paycom webinar on “ FLSA: Don’t Underestimate Overtime Expansion. ” You get the point.
Whether your employees need help with day-to-day budgeting, debt management, planning for their financial future or something in-between, our resource library can help. Best Money Moves users have access to over 900 unique articles, videos, webinars and calculators across a range of financial topics.
Financial wellness can take many forms, but you might consider basic financial literacy courses, budgeting classes, retirementplanning, and the tools a benefits solution might offer. Best Money Moves users gain access to a suite of debt trackers, budgeting calculators and a library of 900+ articles, videos and webinars.
Credit: Andrii-Yalanskyi/Shutterstock Need to know: Employees nearing retirement need to know if they can retire and what their options are. Employers can direct them to support from providers, send out newsmails or facilitate access to qualified financial advisers.
Open enrollment season can be a challenging time for both employees and employers. Employees are often inundated with complex benefit options and decisions, while employers struggle to communicate these options effectively. Host webinars, workshops, or Q&A sessions where employees can ask questions and receive immediate answers.
Encourage them to attend classes, webinars and conventions. This could include investments, such as stock options and 401(k) retirementplans. Some employers see job title changes as a cost-efficient way to retain employees and boost morale. Not all employers take advantage of exit interviews. Avoid new job titles.
As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. Why Should Employers Care?
Beyond being a traditional healthcare benefit, HSAs provide a win-win situation for both employers and employees. Understanding HSAs Health Savings Accounts are tax-advantaged savings accounts designed to help individuals and families with high-deductible health plans (HDHPs) cover medical expenses.
The impact of inflation has fueled many employees to stop saving for retirement, and instead, spend that money on short-term necessities. About 25% of employed adults decreased their retirement savings in 2022 and 12% stopped saving altogether, according to a TIAA report. Establish flexible retirementplans and resources.
Although official data is not yet available, media reports of some big companies saying they will only pay the legal minimum – as opposed to full sick pay – to unvaccinated staff if they have to isolate due to Covid-19 exposure, demonstrates the pressure on employers. 90% planning a FinWell policy. ” One size doesn’t fit all.
Passionate about financial wellbeing , global recruitment firm Hays provides employees with back-to-basics roadshows and webinars to explain pensions terminology in a more straightforward way in order to combat the gender pensions gap. It has offices in 33 countries and 13,000 employees across the world. Of these, 3,500 are based in the UK.
Research indicates that a significant portion of the workforce lacks a robust emergency fund, highlighting the need for employers to step in and bridge this crucial knowledge gap. Online courses, webinars, and user-friendly apps can empower employees to learn at their own pace and convenience.
Encourage them to attend classes, webinars and conventions. This could include investments, such as stock options and 401(k) retirementplans. Some employers see job title changes as a cost-efficient way to retain employees and boost morale. Not all employers take advantage of exit interviews. Avoid new job titles.
That’s why we’ve compiled this summary of one of our recent webinars that Alice Gilman, Esq, hosted. It provides provisions aimed at improving employee retirement outcomes and makes starting 401(k) plans more attractive and beneficial for employers – even those with 50 or fewer employees. How does it do that?
This plan should consider who’s likely to leave, the anticipated departure timeframe, and whether anyone internally could be groomed for the role or if outside candidates need to be considered. Thinking about all of the moving parts can be super daunting, but there is help available. An additional benefit of having such a program in place?
Benefits of hybrid work arrangements for employees and employers The adoption of hybrid work models, combining both in-office and remote work, has emerged as a popular solution that offers benefits to both employees and employers. Employers are acknowledging that a healthy workforce is a more engaged and efficient one.
Discuss both short and long-term perks such as healthcare coverage, retirementplans, or professional development opportunities. And as 26% of work takes place beyond the scope of standard office hours, employers need to meet team members half way here.
Every quarter, I like to review and summarize my notes from recent webinars and classes. On the other hand, employerretirementplan match requires worker savings and credit card rewards and restaurant and retailer rewards programs require consumer spending. It’s that time again!
I recently attended a number of webinars about retirementplanning. Recovering Losses is Difficult - In one webinar, an example was given of stock originally purchased for $100 a share and sold in a panic at $66.66 The 4 L’s of retirement income optimization are Longevity, Lifestyle, Legacy, and Liquidity.
Fortunately, starting next year, employers will have new ways to help employees navigate student loan debt. Act will allow employers to provide employer-matching contributions based on their employees’ qualified student loan repayments outside the plan. In this […] The post Webinar Replay: SECURE 2.0
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