Topic: "Contributions"

arms writing on tax documents and using calculator in front of computer

Important Tax Reminders in the Year Ahead for Employers

January 2021

Compensation, Contributions, General, Taxes

With January well underway, the Christmas decorations have been stored for another year and we turn our attention to the next festive matter – tax season. As an employer, there are many responsibilities to help you and your employees have... Read more

Have You Maximized Your Contribution?

December 2020

Contributions

As the end of year approaches, make sure you’re doing all you can to maximize your 401(k) account value. Boosting your 401(k) contributions could significantly decrease your 2020 tax bill. A 50-year-old participant in the 24% tax bracket who maxes... Read more

Paycheck Protection Program and Retirement Plans

June 2020

CARES Act, Contributions, Coronavirus, Retirement Plans

The Paycheck Protection Program (PPP) was established by the Coronavirus Aid, Relief and Economic Security Act (CARES). The PPP offers loan forgiveness if the spending is for payroll costs. Payroll costs include employer retirement plan contributions. By funding retirement plan... Read more

EmployER Contribution Deadline – WHO KNEW?

May 2019

Contributions

By now, you have heard of the Department of Labor’s regulations for qualified retirement plans regarding the timing of the deposit of EMPLOYEE contributions (Pre-tax and Roth) and loan repayments to the plan trust. BUT… Did you know that there... Read more

Pulling from a 401(k) Early – When Should You and When Should You Wait?

March 2019

Beneficiaries, Contributions, Distributions, Plan Design, Retirement Plans

Pre-tax retirement savings accounts such as 401(k)s and IRAs are common ways to save for retirement. Each year, millions of Americans pour money into these accounts. Unfortunately, many of those people find themselves having to pull money from their account... Read more

The difference between a welfare plan and a retirement plan (and why you need help picking them both!)

February 2019

Beneficiaries, Compensation, Contributions, Distributions, Plan Design, Retirement Plans, Welfare Plans

When it comes to your business, you can’t afford to skimp on your company’s retirement or welfare plan. A solid employee welfare plan can help attract and retain talent, differentiating your business from competitors. By offering a competitive welfare and... Read more

Including Millennial Workers in 401k Plan Design

January 2019

Compensation, Contributions, Distributions, Plan Design, Retirement Plans

Businesses all over the United States are seeing changes in their workforce as baby boomers begin to retire and more and more millennials enter the workforce. In fact, according to a U.S. Bureau of Labor Statistics study, millennials became the... Read more

What is a Catch-Up Contribution?

December 2018

Contributions

Participants who make elective deferrals under an employer plan and have attained age 50 are eligible to make additional contributions above their normal Deferral Limit. What type of plans may permit catch-up contribution? If elected under the terms of the... Read more

A guide to Roth 401(K) contributions

August 2018

Contributions, Payroll

What is the difference between regular 401(k) contributions and Roth 401(k) contributions? When a participant defers pay to a regular 401(k) account, the amount is taken from their pay on a pre-tax basis. They won’t be taxed until they withdraw... Read more