HR Digest

AUGUST 28, 2023

With the ability to make both employee and employer contributions, the Solo 401k allows you to save and invest more compared to traditional retirement plans. So, let’s get started and see if a solo 401k is the golden ticket to a secure retirement. The tax treatment for both types of plans is the same.

401(k) 98

401(k) Retirement Plan Taxes Consulting 98

Fringe Benefit Analysts

MAY 8, 2022

Finding the best team members many times means offering a comprehensive package; however, it can be time-consuming and difficult to decide on the best plans, and then implement them, when it is not within the expertise or scope of a company’s current human resources (HR) department.

Consulting 52

Consulting Employee Benefits Benefits Package Health Insurance 52

Money Talk

JULY 13, 2022

Simply divide the December 31, 2021 balance in each of your tax-deferred accounts by the appropriate age divisor in the Uniform Lifetime Table to determine the minimum amount (which is taxable income) that must be withdrawn. Before RMD money is withdrawn in 2022, develop a plan for what to do with it. Start planning now at mid-year.

Taxes 246

Taxes Retirement Plan Finance Consulting 246

HR Lineup

OCTOBER 25, 2023

As we step into 2023, retirement planning has become more critical than ever. With the uncertainty surrounding the future of Social Security and the increasing life expectancy, having a solid retirement plan is essential. Their 401(k) plans are no exception, with a focus on simplicity and long-term wealth accumulation.

401(k) 52

401(k) Retirement Plan Taxes Education 52

Employee Benefits

NOVEMBER 15, 2023

Adrian Firth, financial education consultant at Mattioli Woods, says: “They are more likely to appreciate the benefit of tax relief and the employer contributions on top of their own payment when they can see it laid out before them.”

Pension 111

Pension Retirement Plan Education Finance 111

Employee Benefits

DECEMBER 22, 2023

In fact, one in four LGBTQ Americans say they’ve experienced financial challenges due to their gender identity or sexual orientation, according to a 2019 Morning Consult poll. Gaps also exist when it comes to retirement savings among same-sex and LGBTQ couples.

401(k) 105

401(k) Health Insurance Finance Taxes 105

WEX Inc.

MAY 28, 2024

With money being the number one factor negatively affecting mental health, HSAs are a great tool for investing and retirement planning. Would you like to learn more about how participants can lean on their HSA to plan for retirement? It is not legal or tax advice. And don’t forget about investing!

Health Savings Account 52

Health Savings Account Medical Retirement Plan Taxes 52

Insperity

DECEMBER 12, 2012

Offering your employees a retirement plan doesn’t have to be a burden on your budget. The federal government offers tax benefits to help make retirement plans more affordable for small businesses. Here are a couple of ways you can save some money by sponsoring a retirement plan.

Retirement Plan 40

Retirement Plan 401(k) Taxes Deductions 40

Money Talk

APRIL 21, 2022

a cash flow (income minus expenses) statement for a recent month or your spending plan/budget , 2. retirement plan statements and insurance policies). Other common designations for financial advisors are ChFC® (Chartered Financial Consultant®) and CPA®/PFS™ (Certified Public Accountant®/Personal Financial Specialist™).

Commissions 187

Commissions Finance Retirement Plan Consulting 187

Benefit Resource Inc.

NOVEMBER 29, 2023

.” — Unknown Benefits hack #1: COBRA + HSA = Early Retirement Are you anxiously awaiting your 65th birthday so you can retire and enroll in Medicare? You have a healthy retirement plan with a 401K, but lack options for comprehensive group medical benefits. By age 65 (or 63.5

401(k) 98

401(k) Medical Retirement Plan Health Savings Account 98

WEX Inc.

MAY 8, 2023

And a quarter of traditional plan participants were likely to choose an HDHP plan instead if offered this type of coverage. Check out our free white paper about HDHPs, HSAs and retirement planning! It is not legal or tax advice. The information in this blog post is for educational purposes only.

Deductions 97

Deductions Deductible Health Savings Account Employee Enrollments 97

WEX Inc.

SEPTEMBER 25, 2023

Employees are often more focused on frequently used benefits such as vacation and paid off policies (PTO) rather than insurance, voluntary benefits and retirement plans. It is not legal or tax advice. For legal or tax advice, you should consult your own counsel.

Voluntary Benefits 98

Voluntary Benefits Health Savings Account PTO Retirement Plan 98

Business Management Daily

APRIL 25, 2024

Fringe benefits can include: Cash bonuses Extra vacation time Paternity leave or extended maternity leave On-site amenities Childcare Wellness plans Retirement planning services Monthly stipends for work expenses Unless they’re working in a highly competitive field, most employees expect employers to offer fringe benefits , at least on some level.

Taxes 52

Taxes Retirement Plan Employee Stock Option Bonuses 52

Employee Benefits

AUGUST 30, 2023

In addition, senior managers with more complex financial affairs can use Evelyn Partners’ executive consulting service to access to expertise in wealth management, financial planning and tax, with the option to sign up for formal, ongoing advice.

Pension 59

Pension Retirement Plan Taxes Finance 59

HR Lineup

JULY 6, 2023

Payroll Outsourcing: Payroll is a critical HR function that involves the calculation of employee salaries, tax deductions, and compliance with local labor laws. HR Consulting: HR consulting involves engaging external experts to provide strategic guidance and support in various HR areas.

Human Resources 78

Human Resources Outsourcing Payroll Retirement Plan Payroll 78

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

provisions make some significant changes for retirement plans , but CAA 2023 also extends the telehealth plan safe harbor for high-deductible health plans (“HDHPs”) that were first introduced in the 2020 CARES Act. Not only do the CAA 2023’s “SECURE 2.0”

Deductions 98

Deductions Deductible Health Savings Account Retirement Plan 98

HR Lineup

DECEMBER 22, 2021

This resource focuses on making retirement planning as easy as possible. Depending on the requirements of an organization or individual, it can build and run a professional retirement planning simulation in a short period. Merces Consulting Group.

Retirement Plan 78

Retirement Plan Employee Compensation Human Resources Consulting 78

Health Consultants Group

OCTOBER 1, 2021

Employees still want traditional options such as retirement plans, educational assistance, and health insurance. However, by implementing a Cafeteria Plan, you can also allow employees to select the additional benefits they prefer. . Cafeteria Plan benefits often include. Call Health Consultants Group at (800) 367-2482.

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

WEX Inc.

MAY 12, 2023

With money being the number one factor negatively affecting mental health, HSAs are a great tool for investing and retirement planning. Would you like to learn more about how participants can lean on their HSA to plan for retirement? It is not legal or tax advice. And don't forget about investing!

Health Savings Account 98

Health Savings Account Medical Retirement Plan Taxes 98

WEX Inc.

FEBRUARY 23, 2023

Add dependents Your HSA or FSA may cover your dependents’ costs if the dependents are claimed on your tax return. For HSAs, it's tax dependents and spouses. 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.

Flexible Spending Account 98

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

Insperity

OCTOBER 2, 2018

When federal tax reform happens, it makes headlines across all media, with the news of sweeping tax changes and how they impact businesses and individuals. Our nation’s first major tax reform in more than 30 years has spurred many business owners to spend hours with their CPAs and tax consultants over the past few months.

Taxes 70

Taxes 401(k) Payroll Professional Employer Organization 70

Insperity

MARCH 12, 2024

Retirement plans Employees want to be able to save for retirement and plan for their futures. In a 401(k) plan, the most common type of retirement plan, employees can save up to a certain amount set by the U.S. Funds can be withdrawn for non-eligible expenses, but they will be taxed.)

Family and Medical Leave Act 57

Family and Medical Leave Act Employee Benefits PTO 401(k) 57

HR Digest

MAY 4, 2024

Misclassification can lead to significant liabilities, including tax penalties and violations of wage laws. Here’s how HR can bridge this gap: Flexible Compensation Models Adjust Pay Based on Location : Recognize the cost of living, taxes, and market rates in the gig worker’s location to ensure fair compensation.

Management 52

Management Retirement Plan Health Insurance Technology 52

Empuls

JULY 11, 2023

Alongside competitive salaries and career growth opportunities, companies are now offering a wide array of tax free or non taxable employee benefits to attract and retain top talent. In this blog, we will discuss tax free or non taxable employee benefits. In this blog, we will discuss tax free or non taxable employee benefits.

Employee Benefits 40

Employee Benefits Flexible Spending Account roth 401(k) 401(k) 40

Insperity

FEBRUARY 11, 2021

Not only do you have to figure out the proper way to pay your people, you have to withhold the appropriate taxes, deposit them and report them to the government. Most payroll services use automation to calculate wages, taxes and other withholdings properly and to generate and file tax returns. Locate or apply for your tax ID.

Payroll 101

Payroll Overtime Deductions Deductible 101

Assurance Agency

SEPTEMBER 17, 2021

Our Small Changes, Big Impact flyer breaks down that 11-15% goal by offering tips to help employees save and showing how various savings scenarios may impact take home pay and retirement outcome. Personal finance concerns, such as debt, budgeting, or managing expenditures can get in the way of saving for retirement. Struggling to Save?

Health Savings Account 52

Health Savings Account Take Home Pay Retirement Plan Taxes 52

HR Digest

FEBRUARY 20, 2020

Retirement plans for a person are valuable benefits that impact both the present as well as future lives of the employees. However, offering retirement benefits to an employee can be a complicated process. As such, it is essential to understand the pros and cons of the process of providing retirement benefits.

Pension 87

Pension Retirement Plan Taxes Pension Benefit 87

Vantage Circle

NOVEMBER 23, 2023

These incentives span a wide array, from health benefits and retirement plans to flexible work arrangements, financial bonuses, and professional development opportunities. Paid parental leave, support for fertility-related expenses, and assistance with adoption or surrogacy costs are also part of the benefitws plan.

Family and Medical Leave Act 65

Family and Medical Leave Act 401(k) Retirement Plan roth 401(k) 65

AssuredPartners

AUGUST 26, 2021

One major component of the CAA is focused on enhancing the compensation disclosure rules for group health plans, individual brokers, and consultants. These new disclosure requirements bring group health plans more in-line with the disclosure rules that apply to retirement plans (e.g. 401(k) plans).

401(k) 75

401(k) Retirement Plan Commissions Consulting 75

Insperity

FEBRUARY 3, 2011

Retiring comfortably is something every worker dreams of. Sponsoring a retirement plan can help them get there. Retirement plans come in a wide range of shapes and sizes, each with its own unique functionality. The following steps can help simplify the process of choosing and managing a plan.

Retirement Plan 40

Retirement Plan 401(k) Employment Profit Sharing Plan 40

Employee Benefits

NOVEMBER 22, 2023

Hannah English, head of DC corporate consulting at Hymans Robertson, said: “Introducing such changes would put an overwhelming amount of responsibility on members to ensure they make the best decision possible in the most informed way. Under the reforms, employees would also choose their own pension scheme for automatic-enrolment.

Pension 64

Pension Government Retirement Plan Consulting 64

Hireology

JUNE 1, 2017

The company also invests in its employees’ health and happiness with a comprehensive benefits package ranging from company-sponsored health plans, retirement planning with match, unlimited paid time off, gym membership and bike ride sharing discounts, student loan financial planning consultants, and tax-free commuter transit benefits.

Retirement Plan 113

Retirement Plan Benefits Package Comprehensive Benefits Human Resources 113

PeopleStrategy

APRIL 2, 2024

Because they’re self-employed, they are taxed differently. This may include providing access to healthcare benefits, retirement plans, paid time off, and other perks reserved for employees. And many kinds of independent contractors, including painters, mechanics, veterinarians, etc.,

Retirement Plan 40

Retirement Plan Healthcare Benefits Benefits Package Finance 40

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. Stershic, Workplace Consultant. In this case, their deferred money goes into a 401(k) plan sponsored by their employer. Jamie Dimon, CEO of JPMorgan Chase.

Family and Medical Leave Act 59

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

Genesis HR Solutions

JUNE 5, 2023

A well-designed policy not only reduces confusion around expenses but it also helps maximize the tax benefits related to expense reimbursement for both employee and employer. ’ for more information on taxes and employee reimbursements.) That’s because IRS reporting requirements are built around these two types of plans.

Deductions 40

Deductions Deductible Taxes Retirement Plan 40

Higginbotham

NOVEMBER 15, 2023

This number includes anyone who worked as a temp, freelancer, consultant , tutor, rideshare driver, delivery driver or independent contract worker. Companies can avoid expenses related to salaries, benefits and taxes associated with full-time employees. If that figure is applied to the entire U.S.

Human Resources 52

Human Resources Retirement Plan Consulting Health Insurance 52

Vantage Circle

SEPTEMBER 16, 2021

In an ESOP plan, the employees own these stocks, which are sometimes turned into an individual retirement account. According to the Employee Ownership Foundation , an Employee Stock Ownership Plan (ESOP) is a tax-qualified retirement plan authorized and encouraged by federal tax and pension laws.

401(k) 52

401(k) Employee Stock Option Profit Sharing Plan Taxes 52