HR Digest

MARCH 28, 2023

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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HR Digest

JULY 9, 2022

First up: Roth IRA contributions. What is a Roth IRA? A Roth IRA is an individual retirement account (IRA) that allows you to invest pre-tax money, which means that any money you put into it isn’t taxed until you withdraw it — at which point it comes out tax-free. What is a 401(k) plan?

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Stratus.HR

MARCH 30, 2021

Knowing which one to use depends on whether it makes more sense for you to delay paying taxes on your savings until retirement (Traditional) or paying them today (Roth). Traditional 401K. A Traditional 401K is sometimes referred to as the pre-tax option. Roth vs Traditional 401K – Which is Best?

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Business Management Daily

JANUARY 5, 2023

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. Every mention of the word “Roth” will require significant adjustments to your payroll system to accommodate after-tax withholding. SECURE 2.0

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Business Management Daily

MARCH 21, 2022

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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HR Professionals Magazine

SEPTEMBER 2, 2021

As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide. At its most basic level, a 401(k) plan allows employees to save for their personal retirement needs.

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Genesis HR Solutions

SEPTEMBER 22, 2020

Employees don’t pay taxes on this money, which means they save an amount equal to the taxes they would have paid on the money you set aside. Sometimes referred to in the same conversation as an FSA, an HSA is a savings account that lets employees set aside money on a pre-tax basis to pay for qualified medical expenses.

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