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Individual Retirement Accounts: What You Need to Know

Money Talk

One of the few things that taxpayers can do to reduce their income taxes after a calendar year ends is to make a tax-deductible contribution to a traditional individual retirement account (IRA) or a SEP-IRA (for small business owners and/or their employees). 401(k), 403(b), 457, or Thrift Savings Plan). There is no way out.

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The Role of HSAs in Maximizing Retirement Benefits

Benefit Resource Inc.

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.

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The Harmony of Health and Wealth with HSAs

Benefit Resource Inc.

Understanding HSAs Health Savings Accounts are tax-advantaged savings accounts designed to help individuals and families with high-deductible health plans (HDHPs) cover medical expenses. Retirement Savings Challenges Employers have faced a dual challenge when it comes to retirement savings benefits.

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The Ultimate Guide to Mastering Human Resources Payroll: Key Insights and Strategies for Success

Professionals Alternative

The primary duty is to process and manage employee payroll, including calculating wages, deductions, and bonuses. Furthermore, HR is responsible for managing employee benefits, such as health insurance, retirement plans, and paid time off. Attend seminars, webinars, and training programs to enhance your knowledge and skills.

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February HR News Worth Review

Higginbotham

Through its enforcement of the Employee Retirement Income Security Act (ERISA), the EBSA oversees approximately 2.5 million health plans, 747,000 retirement plans and 673,000 other welfare benefit plans. According to the audit, these plans cover 152 million workers, retirees and dependents.

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How to tackle absence costs and FinWell pressures

Employee Benefits

Pensions are still ticking the long-term box for many employers, so now the focus is switching to areas like education and salary-deducted savings – bridging short with long-term financial wellbeing, for example, by making it simple for employees to build up savings pots.

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7 Employee Benefit Trends that are Set to Dominate in 2024

Empuls

  Offer alternative healthcare plans , such as high-deductible health plans (HDHPs) paired with health savings accounts (HSAs). These plans often provide employees with more control over their healthcare expenses and offer tax advantages.