PayrollOrg

AUGUST 28, 2023

The IRS has announced an administrative transition period to extend until 2026 the new requirement that additional elective deferrals made by higher-income participants in retirement plans be designated as after-tax Roth contributions.

Retirement Plan 104

Retirement Plan Taxes 104

Insperity

OCTOBER 10, 2023

To do this, the law makes broad changes to the foundation of retirement preparation in the U.S.: employer-sponsored 401(k) plans. All company retirement plans started in 2023 and thereafter must have an automatic enrollment and escalation provision – also known as “ you’re in unless you’re out.” The SECURE 2.0

401(k) 109

401(k) Retirement Plan Taxes Benefits Package 109

Snell & Wilmer Benefits

AUGUST 28, 2023

On August 25, 2023, the IRS issued Notice 2023-62 , which gives retirement plan sponsors a two-year administrative transition period to implement the SECURE 2.0 requirement that certain catch-up contributions to 401(k) and similar defined contribution plans be made on an after-tax Roth basis. More specifically, SECURE 2.0

401(k) 52

401(k) Retirement Plan Taxes Employee Benefits 52

Benefits Notes

AUGUST 29, 2023

Act of 2022 (“SECURE 2.0”) required that effective as of January 1, 2024 , participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and whose Social Security wages for the previous year exceed $145,000 (indexed), only be permitted to make catch-up contributions under such plans on a Roth (after-tax) basis.

401(k) 52

401(k) Retirement Plan Executive Compensation Taxes 52

HR Digest

AUGUST 27, 2020

million people currently employed in this field with an estimated growth of 26% by 2026. They keep company records, make recommendations to businesses regarding financial welfare, compute taxes, prepare financial reports and examine financial documents. Its job expansion is also expected to increase by 19 percent by the year 2026. .

Software 58

Software Entertainment Retirement Plan Taxes 58

HR Digest

AUGUST 27, 2020

million people currently employed in this field with an estimated growth of 26% by 2026. They keep company records, make recommendations to businesses regarding financial welfare, compute taxes, prepare financial reports and examine financial documents. Its job expansion is also expected to increase by 19 percent by the year 2026. .

Software 40

Software Entertainment Retirement Plan Taxes 40

Money Talk

APRIL 14, 2022

The 2021 income tax season will soon be in the history books. With income tax calculations still fresh in our heads, this is a great time to do some tax planning for 2022. Changed Income- A change in household income this year- up or down- will affect income taxes. Specific rules for claiming dependents apply.

Taxes 188

Taxes Family and Medical Leave Act 401(k) Deductions 188