Employee Benefit News

JULY 31, 2023

Authors of a recent study suggest educating employees about the consequences of premature withdrawals and allocating contributions to "sidecar" accounts.

401(k) 93

401(k) Education 93

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

The technical corrections bill includes this omitted language, clarifying that catch-up contributions are permitted in 401(k), 403(b), and 457(b) plans for all catch-up eligible participants. Starter 401(k) Plans. Automatic Enrollment Provision Applied to Multiemployer Plans. However, SECURE 2.0 The text of SECURE 2.0

401(k) 98

401(k) Retirement Plan Education Finance 98

InterWest Insurance Services

JULY 20, 2022

Keep in mind that the ritual of choosing a benefits package is a brand-new experience for people who are new to the workforce, and you should prepare to educate new employees on how to effectively choose and use their new coverages, as well as all the details like premiums, deductibles and out-of-pocket expenses. Continuing education.

Education 98

Education 401(k) Deductions Deductible 98

Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 17, 2023

legislation that was enacted at the end of 2022 included an expansion of the ability for a section 401(k) or 403(b) plan, or a governmental section 457(b) plan, to provide matching contributions on participants’ student loan payments. the cost of attendance at an eligible education institution). Prior to SECURE 2.0,

401(k) 115

401(k) Education Taxes Employment 115

Money Talk

APRIL 4, 2024

All other tax-deferred plans, like 401(k)s and the thrift savings plan (TSP), must have RMDs calculated separately. Required Minimum Distributions (RMDs) - Only IRAs and 403(b) plans (for school and non-profit sector employees) can be aggregated to calculate RMDs.

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401(k) Taxes Finance Education 188

Griffin Benefits

NOVEMBER 1, 2022

Together, these combined announcements by the IRS detail 2023 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. Educating Employees On The Changes.

401(k) 82

401(k) Retirement Plan Health Savings Account Deductions 82

Griffin Benefits

NOVEMBER 11, 2021

Together, these combined announcements by the IRS detail 2022 adjusted limits to the amounts employees can tuck away pretax into Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), transportation benefits, and retirement plans such as 401(k)s. Educating Employees On The Changes.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

International Foundation of Employee Benefit Plans

APRIL 16, 2024

My companions were not up for the hike, so I […] The post Educating DC Plan Participants for the Long Hike to Retirement appeared first on Word on Benefits. Many years ago, I visited Grand Canyon National Park with my mom and aunt. It was unseasonably hot, but I wanted to walk down into the canyon on the Bright Angel Trail.

Education 60

Education 401(k) Pension Employee Benefits 60

AssuredPartners

DECEMBER 11, 2022

Earlier adopters of 401(k) plans, Generation X workers are saving for retirement, but many may fall short. Despite 81% participating in an employer-sponsored 401(k) or similar plan, only 22% of this generation’s workers are “very” confident they will be able to retire comfortably.

401(k) 98

401(k) Health and Welfare Employment Retirement Plan 98

Money Talk

SEPTEMBER 14, 2023

One place where there is a gap in adult financial education is programs for older adults age 65+. 401(k), 403(b), 457, thrift savings plan), Traditional IRAs funded with pre-tax dollars, simplified employee pensions (SEPs) for self-employed workers, and annuities.

Taxes 185

Taxes 401(k) Retirement Plan Pension 185

AssuredPartners

SEPTEMBER 8, 2021

Employers can offer financial wellness programs to help mitigate these negative effects, and steps should be taken to build an impactful plan, educate employees about available resources and engage them to participate. Employer match , which has been proven to motivate participants to increase their 401(k) contributions.

Education 75

Education 401(k) Retirement Plan Take Home Pay 75

Best Money Moves

NOVEMBER 7, 2023

63% of employees feel that economic uncertainty affects current and future workplace benefits and 401(k) retirement plans. 3 out of 5 respondents reported that they would feel confident investing in a 401(k) or alternative retirement plan through their employer will help build their savings for retirement.

401(k) 98

401(k) Retirement Plan Banking Finance 98

HR Digest

MAY 21, 2023

Matching 401(k) contributions 2. Offers like a 401(k) or 403(b) can work as this means that people can use some of their money before they pay taxes on it, and invest in the future. Education Assistance Education assistance helps you learn more. You will learn better if you have education assistance.

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Benefits Package 401(k) Employee Benefits Disability Insurance 105

Money Talk

JANUARY 11, 2023

The easiest way to “pay yourself first” is to have savings deducted automatically from your paycheck through a 401(k) or other workplace savings plan. Pay Yourself First (PYF)- PYF treats savings with the same high priority as a mortgage, rent, or car loan payment. and the “Ballpark Estimate” calculator on the Web site www.asec.org.

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401(k) Finance Insurance Deductions 237

WEX Inc.

JUNE 13, 2023

Education level influences access Employees’ education history also affects their retirement account access. Employees with lower levels of education often work lower-wage jobs that don’t offer these benefits. This could be an HSA, 401(k), IRA, and more. One-third with a bachelor’s degree or higher.

Retirement Plan 98

Retirement Plan 401(k) IT Healthcare 98

International Foundation of Employee Benefit Plans

AUGUST 22, 2023

With the federal student loan relief plan ruled unconstitutional by the Supreme Court, more employers are expected to consider offering student loan repayment benefits (loan paydown) or 401(k)/403(b) matching under the SECURE Act 2.0 appeared first on Word on Benefits.

401(k) 69

401(k) Employment Education Employee Benefits 69

Best Money Moves

JANUARY 31, 2023

When it comes to retirement benefits, employees are looking for more than just a 401(k) — they want comprehensive guidance on how to prepare for the future. Educate employees Social Security, Medicare and other retirement benefits. Some may be at the beginning stages and need help simply choosing between a Roth IRA or 401(k).

401(k) 102

401(k) Retirement Plan Banking Finance 102

HR Professionals Magazine

JULY 26, 2022

Before we jump into another exhilarating talk around 401(k) legislation (please sense my sarcasm), I want you to take a few seconds and ask yourself why it all truly matters. Sure, 401(k)s are an incredibly important part of a company’s total benefits package. By Jim Trujillo. I can tell you; it is not a pretty sight.

401(k) 52

401(k) Benefits Package Retirement Plan Government 52

Money Talk

DECEMBER 29, 2022

Below are 10 of my top take-aways: Knowledge is Power - While new state financial education mandates are getting lots of media attention (and rightly so), financial education works for everyone! Recent research provides clear evidence of the positive effects of financial education on financial behaviors.

401(k) 176

401(k) Taxes Retirement Plan Finance 176

Money Talk

SEPTEMBER 30, 2022

This is especially true when you “did everything right” and saved money in IRAs, 401(k)s and the like, as financial experts recommended. I am one of those financial educators and “walked my talk.” When taxpayers get caught off-guard by IRMAA , as many do, it is easy to get angry at the government. IRMAA seems very punitive.

401(k) 243

401(k) Taxes Pension Deductions 243

Best Money Moves

FEBRUARY 22, 2022

Events, contests and webinars can be an easy way to encourage employees and teach them about 401(k) tax benefits. Add financial wellness programs and education to employee benefits. Address the retirement race gap head-on and use 401(k) auto-enrollment to increase participation.

401(k) 98

401(k) Education Food Finance 98

Genesis HR Solutions

JUNE 21, 2022

When comparing retirement plans—the one your small business currently uses and a 401(k) retirement plan offered by a PEO—you’ll immediately see the difference. This includes managing eligibility, employee education, electronic enrollment, managing payroll deferrals, processing loans, and overseeing plan compliance.

Retirement Plan 52

Retirement Plan 401(k) IT Electronics 52

HR Professionals Magazine

MAY 24, 2022

As a team of 401(k) advisors focused on participant outcomes, we are constantly fielding financial related questions from employees seeking advice. As educators, we prefer the latter. It will be interesting to see how this bold move by the country’s largest 401(k) provider will play out. By Jim Trujillo.

Retirement Plan 98

Retirement Plan 401(k) Banking Education 98

Employee Benefit News

DECEMBER 14, 2023

No matter where an employee is in their financial journey, educating them on options is beneficial to their well-being and your bottom line.

Education 77

Education 401(k) Employee Benefits 77

WEX Inc.

OCTOBER 4, 2023

This makes HSAs appealing to many members who see them as a complement to their retirement savings , alongside their 401(k). Similar to a 401(k), you can make pre-tax contributions to your HSA and enjoy tax-free growth on your investments. The information in this blog post is for educational purposes only.

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

Employee Benefits

JANUARY 26, 2024

Through this, it will match up to 4% of an employee’s salary through contributions to their 401(k) pension plan if they make student loan repayments. Chipotle has also introduced a student loan verification scheme, in conjunction with personal finance firm SoFi’s. Chipotle employees will also have access to a Visa card from Cred.ai

Family and Medical Leave Act 59

Family and Medical Leave Act 401(k) Pension Human Resources 59

Money Talk

OCTOBER 27, 2021

Dollar-Cost Average Investment Purchases - Make regular investment deposits at regular time intervals, such as $100 per month in a mutual fund or 5% of pay every payday in an employer 401(k) or403(b) plan. 401 (k), 403(b), and TSP), and SEPs (for self-employed workers). 20%) you could withstand without losing sleep.

401(k) 100

401(k) Taxes Retirement Plan Education 100

Money Talk

APRIL 28, 2022

When pressed for time to fit ABL into your day, consider “educational multi-tasking” (e.g., Health Savings Accounts - One study found that the tax savings on many employees’ contributions to a health savings account (HSA) increases wealth by more than an employer match on the same employees’ 401(k) contributions.

401(k) 182

401(k) Health Savings Account Finance Retirement Plan 182

Insperity

SEPTEMBER 21, 2023

Look beyond the 401(k) Employees tend to think of a 401(k) retirement plan as a standard, commonplace benefits offering. Furthermore, a 401(k) is focused on the future and long-term goals – a more urgent and timely concern for older employees closer to retirement.

401(k) 100

401(k) IT Benefits Package Finance 100

Best Money Moves

NOVEMBER 18, 2020

401(k) student loan matching is a relatively new program that the IRS approved in 2018. It allows employers to match student loan payments with a contribution to an employee’s 401(k). When employees have financial questions that need answers, Best Money Moves has a team of money coaches ready to help.

401(k) 105

401(k) Employee Benefits Employment Finance 105

WEX Inc.

SEPTEMBER 14, 2023

An informative blog , educational videos and savings and goal calculators make it easy for you to determine your plan elections. That’s essentially what you’re doing when your employer offers to contribute or match your contributions to a benefits plan or 401(k) and you’re not taking advantage.

401(k) 98

401(k) Health Savings Account Flexible Spending Account Healthcare 98

HR Lineup

MARCH 13, 2022

Nonetheless, some common examples include: 401(k). These tax credits come in handy in administration, especially on educating them about the plan. What’s more, some 401(k) contributors may also be further eligible for tax credits. Examples of qualified plans. 403(b) plans. Keogh (HR-10). Target benefit plans.

Retirement Plan 92

Retirement Plan 401(k) Gross Pay Profit Sharing Plan 92

Griffin Benefits

DECEMBER 30, 2021

2022 IRS Contribution Limits for HSA, HDHP, FSA, 401(k). A consolidated list of 2022 IRS contribution limits for tax-advantaged employee benefits accounts such as HSAs, FSAs, 401(k)s, QSEHRA, transportation, and adoption benefits. Do consumers even have a chance? Here are eight ideas to share with them.

401(k) 79

401(k) Employee Benefits Healthcare Media 79

Best Money Moves

JUNE 1, 2022

A few great ways for employers to assist employees are auto-enrolled retirement plans and increasing 401(k) contributions. According to SHRM, 16% of large and midsize US employers plan to raise 401(k) contributions or reinstate a contribution match for 2022. Health Care Assistance. Student Loan Repayment Assistance.

401(k) 99

401(k) Out of Pocket Cost Benefits Package Finance 99

Best Money Moves

MAY 10, 2022

Retirement planning is one of the most common employee benefits offered by employers, specifically a 401(k) matching plan. Employer-sponsered emergency savings accounts may be funded similarly to 401(k) accounts. Here are the 5 best benefits to help retain and attract top talent. Allow flexible time-off policies.

401(k) 106

401(k) Employment Retirement Plan Financial Counseling 106

Best Money Moves

OCTOBER 7, 2021

Employers can emphasize this by using 401(k) or other retirement plans. The most common retirement plan is the 401(k) match where the employer grants a certain amount to the plan based on how much the employee contributes. The best time for employees to start saving is right now. Reach out for a demo today!

401(k) 94

401(k) Retirement Plan Financial Counseling Finance 94

HR Digest

OCTOBER 22, 2023

401(k) as a Fringe Benefit The very popular 401(k) is also a fringe benefit as employers can choose to assist employees with their retirement planning. Some businesses offer sabbatical options to long-term employees, or flexible schedules and education assistance, just to name a few.

401(k) 52

401(k) Employee Stock Option Deductions Deductible 52