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401(k) Plans: 20 Things You Should Know

HR Digest

Are you planning to invest in a 401(k) retirement savings plan, but unsure of the critical things to consider before making a decision? In this article, we will share 20 essential things you need to know about a 401(k), including contribution limits, investment options, employer contributions, fees, and more.

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Sweeping Changes Coming to Employer-Funded 401(k) Plans

Griffin Benefits

Historically speaking, retirees have typically relied on three primary tools to help them prepare for retirement: pension plans, Social Security, and defined contribution plans, like 401(k) plans. Here’s a look at how 401(k) plans may soon change as part of the SECURE 2.0 06) into their 401(k).

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Introduction to 401(k)s for small businesses

Business Management Daily

Setting up a 401(k) for employees can be a daunting task for small business owners. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. 401(k)s allow employees to set aside a percentage of their salary to plan for their future retirement. What is a 401(k)?

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A Better 401(K) Is the Top Reason Why Workers Switch Jobs

HR Digest

To provide financial support, many employers think about 401K retirement plans a nd student loans. They worry if they will be able to support their lifestyle with the pension and if the retirement costs will be close to normal. . The post A Better 401(K) Is the Top Reason Why Workers Switch Jobs appeared first on The HR Digest.

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Striking UAW members want higher wages — and the return of pensions

Employee Benefit News

United Auto Workers members who were hired prior to the 2008 financial crisis have pensions, those brought on since have received 401(k) plans instead.

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Middle-Income Earners Can Be Millionaires

Money Talk

saving 10% of pay in a 401(k) plan). Payroll deductions for defined contribution plans, like 401(k)s, make adhering to advice to “pay your first” automatic. What matters is that proactive action is taken afterward to increase savings and reduce debt so that a positive net worth steadily grows.

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Things Every Employer Should Know About Pension-Linked Employee Savings Accounts (PLESAs)

Snell & Wilmer Benefits

In the wake of recent developments, we are pleased to provide insights into Pension-Linked Employee Savings Accounts (PLESAs) under the Secure 2.0 PLESAs may only be offered in defined contribution plans including 401(k), 403(b) and governmental 457(b) plans. No Hardship is Required to Receive a Distribution From the PLESA.

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