2024 401(k) Employee Benefits Taxes 
Proskauer's Employee Benefits & Executive Compensa
JANUARY 16, 2024
Act of 2022 (“SECURE 2.0”), the IRS issued Notice 2024-02 , which addresses SECURE 2.0 Although Notice 2024-02 offers helpful guidance for employers and plan administrators, it does not include hotly anticipated guidance on SECURE 2.0 401(k) Plan : A spin-off plan from a pre-SECURE 2.0 Merger of Pre-SECURE 2.0
InterWest Insurance Services
NOVEMBER 25, 2022
You’ll want to make note of the changes when discussing your employee benefits during annual open enrollment. 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 catch: These funds must be spent by March 15, 2024.
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Insperity
OCTOBER 10, 2023
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
Proskauer's Employee Benefits & Executive Compensa
DECEMBER 23, 2022
Among other changes, it: Requires automatic enrollment for new 401(k) and 403(b) plans that are first established after SECURE 2.0’s also extends long-term part-timer rules to 403(b) plans covered by ERISA ( effective for plan years beginning after December 31, 2024 ).
WEX Inc.
MAY 2, 2024
For employers, HRAs or HSAs come with perks, including tax savings and increased employee retention. We’ve outlined the key differences between an HRA and an HSA below so you can see how they work, the advantages of each, and if you should be offering one or both to your employees. Investment potential.
Proskauer's Employee Benefits & Executive Compensa
JANUARY 30, 2023
As part of our continuing series on SECURE 2.0 , signed into law December 29, 2022, this post focuses on significant changes for section 403(b) tax-sheltered annuity plans (“403(b) plans”). Historically, the Code restricted 403(b) plans more than 401(k) plans in terms of the contributions and earnings available for hardship withdrawal.
Proskauer's Employee Benefits & Executive Compensa
NOVEMBER 3, 2023
On November 1st, the IRS released a number of inflation adjustments for 2024, including to certain limits for qualified retirement plans. As expected, this year’s adjustments are more modest than last year’s significant increases. The table below provides an overview of the key adjustments for qualified retirement plans.
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