Business Management Daily
JANUARY 5, 2023
Act of 2022 —90+ provisions focused on 401(k) and other retirement plans. Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis. 401(k) plans established after Dec. 401(k) plans established after Dec.
Money Talk
JULY 13, 2023
Starting in 2025, there will be new catch-up contribution limits for workers aged 60, 61, 62, and 63. The limit will be the greater of $10,000 or 150% of the standard catch-up amount for 401(k)s and similar salary reduction plans. The match money goes into a worker’s retirement plan, not to pay off debt.
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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 Major highlights of the SECURE 2.0
Business Management Daily
SEPTEMBER 1, 2023
The saga of 401(k) catch-up contributions under SECURE 2.0 31, 2025: Catch-up contributions will be treated as satisfying the Roth, after-tax requirement, even if employees’ contributions aren’t designated as Roth contributions. is well known. Specifically, until taxable years beginning after Dec.
Money Talk
JUNE 16, 2022
There are seven tax rates in effect through 2025: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Examples include a 401(k) or 403(b) plan and traditional IRA. At any stage of retirement planning, taxpayers' taxable income determines their tax rate. Tax-exempt income is income that is free from federal income tax.
Griffin Benefits
JUNE 29, 2023
contains dozens of changes to retirement plans, but perhaps none bigger than these two: New 401(k) and 403(b) plans will be required to automatically enroll participants in the respective plans, and employee salary deferral rates will automatically escalate each year. The SECURE Act 2.0 THE SECURE ACT 2.0
HR Professionals Magazine
SEPTEMBER 2, 2021
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. At its most basic level, a 401(k) plan allows employees to save for their personal retirement needs.
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