Tag: 401k

There are over 90 provisions in the Secure Act 2.0.  Hear from  RSG’s clients’ perspective on the legislation addressing student loans, emergency savings, ROTH employer contributions. The two driving themes that directly address the social problem of the American savings culture are: 1. more tax credits/incentives for businesses to offer the programs  2.a significant increase in pushing auto-enrollment and auto-escalation features

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.

Setting up a retirement plan for your organization was no small task. You goal of creating a savings culture is measured by how many employees participate in your plan. Unfortunately just because you have provided the plan, that doesn’t mean your employees will just automatically participate in it. For your plan succeed so here are 4 tips you can use to help increase your plan participation. • Auto Enrollment • SECURE Act Tax Credits • Auto Increase • Company Match

One benefit of investing in a retirement plan is that you have access to two special kinds of investments: target-date funds and stable value funds. These funds serve very different purposes, but both can help with your retirement-savings goals at different times in your life, or in the current case, as tolerance for market risk changes.

While inflation may not be ideal news for consumers and economic growth in general, there are some benefits for savers – increasing retirement plan savings limits and interest rates. It’s a great time to evaluate whether you can contribute more to your Plan. Or, starting a plan to benefit from the tax-advantaged savings.

Headlines have been alerting us to worst surge in prices and inflation since February 1982. We'll discuss the consequences for your retirement plan.

A Company’s Mission Statement expresses its culture, values and agenda to the outside world as well as within the organization. When benefits duly reflect the mission, Employees are motivated to work with a higher sense of purpose and feel rewarded for their efforts. This leads to happier employees, more productivity and increased utilization of benefits like the Retirement Plan.

Given the complexity and the multiple responsibilities associated with running a company retirement plan, Plan Sponsors should not hesitate to admit that the process can be overwhelming. Particularly, if they attempt to tackle it on their own. No matter the type of company or size of plan, building a Retirement Plan Oversight Committee which includes internal representatives who partner with an outside expert, is not only a best practice but a standard protocol recommended.