article thumbnail

What happens to 401k if furloughed?

HR Digest

If you’re furloughed, does that mean your 401k is canceled? In a sentence: no, your furlough pay reduction does not lead to 401k cancellation. Your 401k is yours, and it stays yours. In this article, you should know that furlough and 401(k) are two different things. How is your 401(k) affected by furloughs?

401(k) 115
article thumbnail

This Earth Day, recycle 401(k) savings to avoid IRA landfill

Employee Benefit News

provision runs the risk of expanding asset waste in the proverbial 401(k) landfill. Amid cash-outs, stranded plans and suboptimal investments, a SECURE 2.0

401(k) 120
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What's a good 401(k) employer match?

Employee Benefit News

Most companies that offer to match employees' 401(k) contributions offer a match of between 3.00% and 4.99% of their employee's pay.

401(k) 110
article thumbnail

Top Reasons for 401(k) Loans

International Foundation of Employee Benefit Plans

Many 401(k) plans allow participants to take out loans from their individual 401(k) account. According to Employee Benefits Survey: 2024 Survey Report, 81% of corporate employer plans offered a 401(k) loan provision.

401(k) 90
article thumbnail

How to Conquer These 4 Top-of-Mind HR Challenges

Whether you’re concerned about adapting to new pay transparency laws, managing global benefits packages, return-to-office mandates, or 401(k) and retirement planning strategies, we’ve got you covered. And the ever-changing policies and laws can make cultivating a competitive employee benefits strategy feel impossible.

article thumbnail

Is a Solo 401k a Good Idea?

HR Digest

This mini-guide explores whether a solo 401k is a good idea for individuals like you. But how does a solo 401k work? And who qualifies for a solo 401k? What happens to solo 401k when you’re no longer self-employer? So, let’s dive into the details and answer the question, “Is a Solo 401k a good idea?”

401(k) 98
article thumbnail

Pros & Cons Of Auto-enrolling Employees In A 401(k) Program

Genesis HR Solutions

Should you auto-enroll your employees into your company’s 401(k) program? Automatic enrollment is exactly what it sounds like—you, the employer, automatically enroll your employees into your organization’s 401(k) plan. The 401(k) is pre-tax. You don’t need to shake a magic eight ball to make a decision.

401(k) 97