Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

Act of 2022 (“SECURE 2.0”) was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act, and included a myriad of required and optional plan design changes for retirement plan sponsors and employers (described in more detail here ). Automatic Enrollment Provision Applied to Multiemployer Plans.

401(k) 98

401(k) Retirement Plan Education Finance 98

Business Management Daily

FEBRUARY 18, 2022

The Employee Benefits Security Administration has had an on-again, off-again approach to whether employers can allow 401(k) investment choices to promote social, environmental, or other public policy causes—called economically targeted investments or sometimes environmental, social, or governance investing.

401(k) 59

401(k) Pension Retirement Plan Commissions 59

HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide.

Retirement Plan 52

Retirement Plan roth 401(k) 401(k) Taxes 52

Money Talk

SEPTEMBER 14, 2023

One place where there is a gap in adult financial education is programs for older adults age 65+. The bulk of community and workplace programs cover financial tasks and decisions to get “to retirement,” not “through retirement." Types of Tax-Deferred Accounts - These include employer-sponsored defined contribution plans (e.g.,

Taxes 187

Taxes 401(k) Retirement Plan Pension 187

Griffin Benefits

NOVEMBER 1, 2022

The IRS has finally announced adjustments to 2023 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. 2023 Retirement Plan Limits Increase. Educating Employees On The Changes.

401(k) 82

401(k) Retirement Plan Health Savings Account Deductions 82

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

Best Money Moves

NOVEMBER 7, 2023

63% of employees feel that economic uncertainty affects current and future workplace benefits and 401(k) retirement plans. Workers in the baby boomer generation are having to delay retirement due to the instability of the current economy.

401(k) 97

401(k) Retirement Plan Banking Finance 97

Griffin Benefits

NOVEMBER 11, 2021

The IRS has finally announced adjustments to 2022 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. 2022 Retirement Plan Limits Increase. Educating Employees On The Changes.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

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. Where to start when building or selecting a financial wellness plan? Eliminate or reduce of 401(k) loans.

Education 75

Education 401(k) Retirement Plan Take Home Pay 75

Best Money Moves

JANUARY 31, 2023

Almost 4 in 10 employees say they’re not confident about reaching their retirement goals, according to a 2022 Bank of America report , and even more are unsure if they have enough savings to retire. Here are 3 ways to help all employees get prepared for life during retirement.

401(k) 101

401(k) Retirement Plan Banking Finance 101

HR Digest

MAY 21, 2023

Matching 401(k) contributions 2. The government and the health care sector are working to create plans that small businesses can afford, but at the same time they want to protect their employees. Retirement Plans Employers usually offer retirement plans. The employer will contribute to the plan.

Benefits Package 105

Benefits Package 401(k) Employee Benefits Disability Insurance 105

Benefit Resource Inc.

APRIL 4, 2024

While traditionally associated with healthcare expenses, HSAs can play a pivotal role in retirement planning for your employees. Let’s look at how HSAs and retirement intersect, and why integrating HSAs into your benefits strategy can be a game-changer for both your employees and your organization.

401(k) 52

401(k) Retirement Plan Benefits Package Deductions 52

Money Talk

DECEMBER 29, 2022

I recently attended a number of webinars about retirement planning. 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! Many have to settle for less. It is not all theirs to keep.

401(k) 177

401(k) Taxes Retirement Plan Finance 177

Best Money Moves

MAY 10, 2022

Offer competitive, matched retirement planning options. 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.

401(k) 105

401(k) Employment Retirement Plan Financial Counseling 105

Griffin Benefits

JUNE 29, 2023

contains dozens of changes to retirement plans, but perhaps none bigger than these two: New 401(k) and 403(b) plans will be required to automatically enroll participants in the respective plans, and employee salary deferral rates will automatically escalate each year. The SECURE Act 2.0

401(k) 52

401(k) Retirement Plan Salary Take Home Pay 52

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) 183

401(k) Health Savings Account Finance Retirement Plan 183

Best Money Moves

OCTOBER 7, 2021

According to a study conducted by the Department of Labor, only 40% of Americans have calculated the amount they need to save for retirement. Employers can emphasize this by using 401(k) or other retirement plans. Employers that utilize these plans are desirable to potential new hires.

401(k) 93

401(k) Retirement Plan Financial Counseling Finance 93

PeopleStrategy

OCTOBER 3, 2023

It starts with understanding your employees’ needs where they are in their lives and educating them on how you will meet their needs during open enrollment and beyond. Offer a Flexible Benefits Package: Consider providing a core set of benefits that meet the basic needs of all employees, such as health insurance and retirement plans.

401(k) 52

401(k) Retirement Plan Parental Leave Health Savings Account 52

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

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. Source: Transamerica Center for Retirement Studies).

401(k) 52

401(k) Benefits Package Retirement Plan Government 52

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. Examples include traditional individual retirement accounts (IRAs), tax-deferred employer retirement plans (e.g.,

401(k) 100

401(k) Taxes Retirement Plan Education 100

HR Digest

OCTOBER 22, 2023

Something as serious as retirement planning assistance could just as soon be a benefit as providing a gym membership for employees who want to work out. 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.

401(k) 52

401(k) Employee Stock Option Deductions Deductible 52

PeopleStrategy

DECEMBER 12, 2023

IRS 2024 Retirement Plan Limits No matter how happy your employees are with your company, the majority likely dream of one day retiring. You and others in your HR department can help them prepare for retirement by sharing changed retirement plan limits for the coming year. per hour $816.35 per week Jan.

401(k) 52

401(k) Overtime Health Savings Account Retirement Plan 52

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. Improving retirement benefits can also be a great way for employers to keep up with the competition in their industry. Student Loan Repayment Assistance.

401(k) 98

401(k) Out of Pocket Cost Benefits Package Finance 98

HR Digest

APRIL 22, 2023

Employees want support for their financial goals, such as retirement planning or debt reduction. Employers who offer financial wellness benefits, such as financial education, 401(k) contributions, or student loan repayment assistance, can attract and retain top talent while improving employee financial well-being.

401(k) 105

401(k) Parental Leave Benefits Package PTO 105

Vantage Circle

SEPTEMBER 23, 2023

Meeting Legal And Ethical Obligations: Certain benefits, such as health insurance, retirement plans, and paid time off, may be required by law in many jurisdictions. Retirement Benefits Retirement benefits are critical to an employee's compensation package, providing financial security in their post-work years.

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits 401(k) Employment 59

InterWest Insurance Services

AUGUST 30, 2022

401(k)s or other retirement plans. Defined benefit pension plans. Financial planning and education workshops. Beef up your communication and education efforts, both in person and via technology. Integrate financial wellness into your employee wellness plan. Dental insurance. Vision care.

Benefits Package 98

Benefits Package 401(k) Disability Insurance Health Insurance 98

Hppy

JUNE 7, 2018

That makes planning for retirement more concerning and terrifying — 30 percent of employees feel stressed by retirement planning, mentally and emotionally. Stress this fact to employees, and encourage them to automate a consistent portion of their paycheck to their retirement savings. What do they not understand?

Retirement Plan 50

Retirement Plan 401(k) Health Savings Account Education 50

Corporate Synergies

AUGUST 15, 2018

Help them with a retirement benefits education program. 2 This select group needs retirement benefits education now. 2 This select group needs retirement benefits education now. There are specific rules about contributions and withdrawals in retirement. One is retirement “back pay.”.

401(k) 40

401(k) Education Health Savings Account Employment 40

Best Money Moves

MAY 4, 2022

According to the Morgan Stanley data, high earners were generally attracted to three financial wellness benefits: Retirement planning (69%). General financial education (41%). Financial wellness can help you go beyond with company retirement matching. High-earning employees want three key financial wellness benefits.

401(k) 102

401(k) Retirement Plan Salary Finance 102

WEX Inc.

FEBRUARY 23, 2023

Because an HSA is a “savings” account, you’ll want to designate a beneficiary (or beneficiaries), just as you would with a 401(k) or other retirement-planning accounts. Education is critical to get the most out of your employee benefits. The information in this blog post is for educational purposes only.

Flexible Spending Account 98

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

HR Lineup

JANUARY 24, 2024

This can include eligibility for retirement plans, stock options, or other investment-related perks. Investment Statements: Detailed statements from financial institutions outlining the employee’s investment portfolio, including stocks, bonds, mutual funds, and retirement accounts.

401(k) 52

401(k) Retirement Plan Taxes Education 52

Employee Benefit News

NOVEMBER 28, 2023

Holistic communication can help educate employees on how to make the most of their retirement plans.

Retirement Plan 106

Retirement Plan Education 401(k) Employee Benefits 106

Money Talk

OCTOBER 7, 2021

I recently attended several webinars and listened to several podcasts about issues related to retirement planning and personal finance issues in later life. According to the EBRI RCS, 46% of the retiree subsample said that they retired earlier than planned and 6% retired later.

401(k) 130

401(k) Entertainment Retirement Plan Taxes 130

Insperity

SEPTEMBER 1, 2022

Increase company contributions to retirement planning. A 401(k) retirement plan is an important benefit that your company pays to provide for employees – and you want to make sure that they know how to take full advantage of it for their financial well-being and future security.

401(k) 86

401(k) Retirement Plan Bonuses Salary 86

Business Management Daily

APRIL 29, 2024

Fringe benefits generally cover needs such as: Health and wellness Retirement planning Time off and vacation Financial offerings Work-life balance Company-sponsored fixtures and events Professional development Let’s take a look at what’s included in each category. However, there are a few categories into which they usually fall.

Out of Pocket Cost 75

Out of Pocket Cost PTO 401(k) Deductions 75

Flimp Communications

MARCH 31, 2020

In an increasingly uncertain world, workers are looking to their employers for answers and education about their financial futures. If you can educate them now on ways to save and budget, they’re going to listen. Help them get through the current trials and plan for their financial future beyond the crisis.

401(k) 53

401(k) Retirement Plan Medical Taxes 53