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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?

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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?”

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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. What is automatic enrollment?

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ESOPs and 401(k)s: A Comparative Guide

HR Digest

Employee Stock Ownership Plans (ESOPs) and 401(k) plans are both popular retirement savings plans, but there are some key differences between the two. This article compares ESOPs and 401(k)s in terms of funding, investment options, risk, tax benefits, and other factors.

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What is a 401(k) Plan and How Does it Work?

HR Digest

One popular way to get your retirement plan sorted in the United States is through a 401(k) plan. A 401(k) plan is a type of retirement account offered by employers to their employees. It allows employees to save a portion of their pre-tax income for retirement. How does 401(k) work?

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Top 10 401(k) Providers in 2023

HR Lineup

One of the cornerstones of retirement planning is the 401(k) plan, and choosing the right provider can significantly impact your financial future. In this article, we’ll explore the top 10 401(k) providers for 2023, each offering unique features and benefits to help you make an informed decision. What is a 401(k)?

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Roth IRA vs 401(K): Which Should You Choose?

HR Digest

You probably have come across the occasional Roth IRA vs 401(k) comparisons to pick your retirement account. But where do you start, especially with the competition between Roth IRA vs 401k. What is a 401(k) plan? A Roth 401(k) is an account in which contributions are taken directly from the paychecks of employees.

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