In an announcement made in late August, the IRS said it would give people until 2026 to comply with new requirements for their Roth catch-up contributions. This is good news for many Americans, as this transition period under the SECURE 2.0 Act passed in late 2022...
Everyone talks about the Baby Boomers and Millennials – especially when it comes to retirement. But there is a forgotten generation in the middle: Generation X. Generation X has spent most of their lives working – with many entering the workforce in the 1990s. They...
If you haven’t been as diligent with retirement savings (or if life got in the way and you couldn’t save much in your younger years) there is good news: Your employer might allow you to make catch-up contributions to your retirement plan if you are over age 50!...
You start a job, you enroll in the 401(k) plan and that’s it, right? But what happens if your company gets sold? The good news is, your money doesn’t vanish. It’s still yours, you just have to figure out the next step. There are steps that have to happen and options...
RMDs or required minimum distributions for retirement plan accounts have been around for years but in recent years, there have been some changes. So, here is a little history lesson and an update on what you need to know about RMDs and your retirement plan account....
To recruit and ultimately retain top talent, companies are looking at how they structure benefit packages – specifically, using immediate vesting as a tool to set themselves apart. It seems like paying a high salary is still the biggest draw for job seekers, but for...
People are more likely to save for retirement when they have access to an employer-sponsored plan, but many companies simply don’t offer retirement plans to employees.Under SECURE 2.0, there are new rules not only encouraging workers to enroll in company plans – but...
President Joe Biden signed the SECURE 2.0 Act of 2022 into law at the end of lastyear, meaning changes are coming. But what does the act mean for employeeenrollment in defined contribution plans?This retirement legislation will have a big impact on large and small...
In the last days of 2022, President Joe Biden signed the SECURE 2.0 Act of 2022 into law, after it was approved by the U.S. Senate and the House of Representatives. So, after the SECURE 2.0 Act of 2022 became a law, what does this all mean? And what provisions were...
Last month, the Department of Labor proposed updates to the Voluntary Fiduciary Correction Program, including adding a self-correction component for employers that fail to send 401(k) salary withholding contributions or loan repayments for participants on time. These...
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