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What Is a Qualified Retirement Plan?

HR Lineup

Some of these plans have an advantage when it comes to taxes. Types of Qualified Retirement Plans. There are three classes of qualified retirement plans, namely: 1. Under this plan, the amount is discretionary and so, you as the employer decides the amount to contribute to the program each year. Hybrid plan.

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All You Need to Know About Profit-Sharing

Vantage Circle

If that's the case, a profit-sharing plan is just right for you! According to a Gallup poll, 40% of the employees want profit-sharing options as a part of their compensation plan. So before you start planning, here is all you need to know about profit-sharing. What is Profit-Sharing?

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Compliance Areas for 2024 You Might Not Have Thought Of

PeopleStrategy

HSA Compliance Health savings accounts (HSAs) have become commonplace in the last several years as a way to offset high deductible health plans. For plan years beginning in 2024, the minimum annual deductible is $1,600 for self-only coverage and $3,200 for family coverage.

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The A to Z Explanation About Phantom Stocks

Vantage Circle

A phantom stock, also known as “shadow stock” or “ghost shares”, gives employees the opportunity to share in the wealth and success of the company. Companies do this by providing employees with a stake in the company's stock as well as a retirement plan to ensure they have enough money later on in life. Phantom stock.

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5 ways you can help employees prepare for retirement

Business Management Daily

The plan sponsor, most likely the employer, bears all the investment risk and pays you a fixed amount every month until you die. Defined contribution plans such as 401(k) plans were never meant to function as retirement plans—they are profit-sharing plans. Here’s what you can do to help.

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How to Choose an Employer-Sponsored Retirement Plan

Insperity

Retirement plans come in a wide range of shapes and sizes, each with its own unique functionality. The following steps can help simplify the process of choosing and managing a plan. The wide variety of available plans means virtually any business can begin a retirement plan regardless of its financial situation.