Meet Danita Jo Talbot

Required for 2024: Luckily, the required changes for 2024 are minimal. Long-term, part-time employees become eligible to participate in the 401(k) plan. Catch-up contributions are required to be Roth if the participant earns more than $145,000 in W-2 compensation.

High employee turnover could lead to a rise in small 401(k) accounts. Explore how adding a Safe Harbor IRA provision to your plan may help reduce plan costs and potential fiduciary risks.

With thoughtful design features, you can structure a 401(k) plan that stands out in a time of talent scarcity and meets your employees’ needs.