In recent years, many Americans have been dipping their toes into cryptocurrency, making investments that sometimes have paid off – big time. And the Department of Labor has recognized this, paving the way for employers to add cryptocurrency to 401(k) plans. Recently,...
In the past, part-time employees haven’t been given the opportunity to receive matching contributions with employer retirement accounts. However, as a provision of the SECURE 2.0 act, the eligibility rules have changed – while the requirements haven not. Currently,...
The number of American workers who are taking hardship withdrawals out of their employer-sponsored retirement plans is on the rise – potentially putting retirement at risk. According to Vanguard Group, 4.8% of 401(k) participants in 2024 took a hardship withdrawal –...
A recent report came out showing that more Americans than ever have $1 million in their 401(k). This is great news for retirement saving! But when you look a little deeper, there still aren’t a massive amount of millionaires winning the game of retirement saving. So,...
It seems Americans are saving more for retirement, with retirement account balances at an all-time high, according to a report by Fidelity Investments. In the report, the company noted that average overall contributions are also on the rise – nudging closer to its...
If your job offers 401(k) retirement plans, pay close attention to company communications. Starting earlier this year, many companies are now required to auto-enroll employees into 401(k) retirement plans – even if you’ve previously opted out. This change is due to...
Right before the holidays, the 2025 IRS limits were announced and thresholds for retirement plans – reflecting cost-of-living adjustments. If you have a 401(k), there are some limits that are relevant to your retirement plans. In a separate announcement, the 2025 IRS...
The year is ending, and if you haven’t sent annual notices to plan participants, now is the time, plan sponsors! In fact, it might be too late this year (the deadline is Dec. 1, 2024) so if you are unsure – or if you missed the deadline – here is what you need to know...
The SECURE 2.0 Act continues to bring changes to America regarding retirement savings and planning and 2025 will usher in more updates. While many things have already been implemented due to SECURE 2.0, 2025 will bring even more changes – and there will be more in the...
If you work for an employer that sponsors a 401(k) or a governmental agency that offers 457(b) plans, you might already know about catchup contributions. For a while, employers sponsoring these plans can give participants who are 50 or older by the end of the calendar...
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