Oct
15
2024
Beginning January 1, 2025, plan participants between the ages of 60-63 will have the opportunity to contribute more to their 401(k) plans.
The SECURE 2.0 Act, which was passed at the end of 2022, included a provision (section 109) that would increase the catch-up contribution limit for participants that are nearing retirement age.
Under current law, defined contribution retirement plans may...
Oct
15
2024
A recent Harvard Business Review article reported that 80% of all businesses’ employees are feeling financial stress. For 27% of those employees, the stress they feel is reported as “high or overwhelming.” The article goes on to explain that employee financial stress is affecting your profitability. In fact, it describes this stress as “lethal to your bottom line.”1
One way you can...
Oct
15
2024
The financial lives of American workers have become increasingly complicated in the 21st century. Instead of relying on an employer pension, most workers now save on their own, a shift that brings both opportunities and challenges. In addition, workers have to effectively allocate these savings across different financial products and accounts. Should they fund their 401(k) account or emergency...
