article thumbnail

Congress passes SECURE 2.0 Act, making important changes to 401(k)s

Business Management Daily

Act of 2022 —90+ provisions focused on 401(k) and other retirement plans. Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis. 401(k) plans established after Dec. builds on what we can now call SECURE 1.0,

401(k) 52
article thumbnail

Growing Risks of Benefits, Payroll Platforms

InterWest Insurance Services

There is a growing threat to companies that use online services to administer their employee benefits and payroll as cyber criminals increasingly exploit these cloud service platforms. Large sums of money flow through a number of transactions for: Payroll. 401(k) and other retirement accounts. Health information.

Payroll 98
Insiders

Sign Up for our Newsletter

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

article thumbnail

If You’re Paid Biweekly, You’ll Probably Get an Extra Paycheck in 2020

HR Digest

For example, if you make $50,000 a year, your biweekly gross pay over 26 pay periods is $1,923.07, minus any deductions like health insurance, 401(k) contributions and taxes. You’ll want to review your 401(k) contributions and any other automatic deductions. and earn total annual gross pay of $51,923.07

401(k) 81
article thumbnail

Rippling

HR Lineup

With this tool, businesses can easily record and track employee attendance, schedule shifts, and calculate payroll in real-time. One of the key features of Rippling is its ability to integrate with various HR and payroll systems, including Quickbooks and ADP.

401(k) 52
article thumbnail

Justworks

HR Lineup

One of the key features of Justworks is its payroll system, which integrates with a range of benefits and compliance tools to help companies manage their employees’ pay and benefits in a centralized, efficient, and secure manner.

401(k) 52
article thumbnail

Hoops HR

HR Lineup

The system can also track paid time off, sick leave, and other types of time off. With the ability to integrate with payroll systems, Hoops HR can help businesses automate their timekeeping processes and reduce errors. The system allows users to create custom benefit plans and track enrollment and eligibility.

401(k) 52
article thumbnail

Leap year! How to handle 27 biweekly payrolls in 2020

Business Management Daily

This avoids the problem, but many payroll systems aren’t set up to deal with these fractions. Most payroll systems allow you to suppress benefits’ deductions for the extra pay period. THINK OUT OF THE PAYROLL BOX: From a budgeting perspective, payroll is your largest expense. biweekly pay periods.

Payroll 83