Money Talk
APRIL 11, 2024
The 2023 income tax filing deadline is only days away (April 15, 2024 in most of the U.S.). 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.
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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HR Digest
APRIL 1, 2024
In his 2024 Annual Chairman Letter to Investors, BlackRock CEO Larry Fink brought attention to a retirement crisis letter that renewed interest in the conversation, discussing strategies on how to address the matter. 55 percent of these respondents expressed worry about achieving financial security after retirement.
HR Professionals Magazine
FEBRUARY 3, 2024
Most survey respondents (96%) sponsor a defined contribution plan in the form of either a 401(k) or 403(b). Twenty-two percent (22%) of survey respondents offer a traditional pension plan in conjunction with their defined contribution plan.
Business Management Daily
MARCH 23, 2023
the oversized pension bill enacted last December, allows 401(k) plans to include after-tax emergency accounts. This provision becomes effective for plan years beginning in 2024. You should also check your state’s wage payment laws to see if advances are allowed. SECURE 2.0,
HR Digest
OCTOBER 30, 2023
Upon ratification, there should be an initial hike of 11 percent in 2024 , with a 3 percent hike every year until the end of the contract, ending 2027 with a 5 percent general wage increase. Active members with pensions should get an increase in the life income benefit of $5 per year of credited service.
Proskauer's Employee Benefits & Executive Compensa
MARCH 16, 2023
First, employee contributions ( e.g. , to health or 401(k) plans) will need to resume when payroll resumes. Employees can miss out on 401(k) and similar deferral opportunities if payroll does not resume by year-end. Employee Benefits Considerations Missed payroll can impact employee benefit plans.
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