article thumbnail

Congress passes SECURE 2.0 Act, making important changes to 401(k)s

Business Management Daily

which was enacted in 2019. 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. Auto-enrollment plans may seem to work on autopilot, but mistakes leading to hefty tax penalties can happen. SECURE 2.0

401(k) 52
article thumbnail

How Employee Perks Can Help Companies in the US

Vantage Circle

Retirement Plans: Such as 401(k) plans with employer matching contributions Retirement plans, especially 401(k) plans with employer matching contributions, are paramount among employee perks in the United States. A 401(k) is a tax-advantaged retirement savings program provided by employers.