Retirement Plans

10 Things You Need to Know About SECURE 2.0 This brief highlights ten key elements of the just-passed Secure Act 2.0 that will impact workplace benefits and retirement plans. 1. Requires automatic enrollment (new plans) This provision requires 401(k) and 403(b) plans to automatically enroll participants in the respective plans upon becoming eligible (and the

How Employers Can Help Employees Prepare for Retirement Retirement is a significant milestone for all employees that often requires careful planning. Unfortunately, many employees have fallen behind in their retirement goals. Costs of living increases, student debt and low salaries are making it difficult for employees to adequately save for retirement, according to a recent

IRS Announces 2024 Retirement Plan Limits The Internal Revenue Service (IRS) has released Notice 2023-75, containing cost-of-living adjustments for 2024 that affect amounts employees can contribute to 401(k) plans and individual retirement accounts (IRAs). 2024 Increases The employee contribution limit for 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. Other key

401(k) Plans for Small Businesses 401(k) plans can be a powerful tool to promote financial security in retirement. They provide a host of benefits for employers, including aiding in hiring and retention, tax-advantaged contributions, and the ability to include all employees, owners and managers. Employees also enjoy advantages such as flexibility with contributions and investment