Tag: 401(k)

Plan Sponsors Must Now Analyze 401(k) Plan Administration (Part 2)

Yesterday we began to explore some of the changes that the Bipartisan Budget Act of 2018 has made to the Tax Cuts and Jobs Act, and what it all means. Today we will continue to explore the topic, including the definition of compensation and hardship distributions.

retirement

Retirement Savings Plague Workers Who Are Fearful They’ll be Working Past 70

One of the most talked about HR trends of 2018 is financial wellness. More and more employers are stepping up to help their employees get on the right track to becoming more financially stable. However, a new CareerBuilder survey highlights employees’ concerns over whether or not they have enough saved for retirement, hindering plans to […]

Implement an LMS with Answers to These 5 Questions

The costs of owning and implementing a learning management system can quickly push you beyond your budget if you fail to plan accordingly. So, how can directors and managers create a true picture of their actual LMS costs to avoid ballooning expenses? Start by asking yourself several key questions before signing on the dotted line.

401K

401(k) Hardship Withdrawal Rules Explained

To ease employees’ concerns about access to their elective deferrals in the event of a financial emergency, an employer may provide for hardship withdrawals in its plan. This can provide some peace of mind during difficult times.

401k

IRS: Missed 401(K) Loan Repayments Can Be Made Up Without Being Taxed

An Internal Revenue Service (IRS) Chief Counsel Advice memo issued to assist counsel in one of the agency’s regional offices provides two ways missed 401(k) loan payments can be handled without taxing the participant in plans permitting a cure period for such skipped payments. The guidance—while neither a precedent or legally binding—may be beneficial for […]

Short- And Long-Term Reasons for Small Companies to Offer a 401(k)

If yours is a small company, you may feel envious about the fabulous employee benefits packages offered by the big guys. Just like them, you need to attract and retain key talent to move your business forward. But with their fancy dry cleaning pick up service and pet insurance, how can you compete with larger […]

4 Tips for Your Compensation Planning from the Banking Industry

It’s no secret that the recession of 2007/08 resulted in an array of new regulations, especially in the financial services arena. Banking, especially, became subject to new regulation intended to avoid the circumstances that originally led to the recession. The regulation doesn’t end with your mortgage loan or bank money market account. We spoke with Kathy Smith, President of Bank Compensation Consulting to find out how the industry’s highly regulated environment has led to creative compensation solutions—many of which can apply to any industry.

retirement

Managing Retirement Plans for Overseas Employees Becomes Global Concern

Employers that operate globally must often set up offshore locations and find employees to staff them. It follows that employers who sponsor retirement savings plans for their eligible U.S. employees likely will want a similar benefit for their employees outside the country. Many are taking steps to find the best way to make that happen, […]