A 401(k) plan helps your employees save for their future by giving them the opportunity to invest a portion of their paycheck into an employer-sponsored retirement account. Employees can select to invest either pre-tax or after-tax dollars into diversified investment lineup within their 401(k) portfolio. Many 401(k) plans offer employer matching, to entice employees to contribute a specific percentage of their paycheck into the plan in exchange for a matching investment from you, their employer. Employer 401(k) benefits include tax deductions and competitive retirement plan packages to attract top talent to your team. Curious about 401(k) plan options, regulatory details, and contribution rules? Head over to the Watkins Ross blog to browse 401(k) articles written by our retirement plan experts who have your goals and interests in mind. Looking for a retirement plan partner who understands the intricacies of your business and can help guide your 401(k) plan goals and compliance efforts? Connect with the Watkins Ross retirement team here.
Using the correct definition of your compensation plan in your 401(k) plan is essential. When it’s wrong, it can cause headaches like failed plan tests, incorrect contributions, or even IRS penalties. Here’s what you need to know to avoid these issues. What Happens...
When companies engage in mergers and acquisitions (M&A), the focus is often on operational integration, financial restructuring, and human resources. However, one area that deserves particular attention is the impact on 401k plans. As a plan sponsor, understanding...
Learn how to track 401(k) payroll deposits, ensure compliance, maintain employee trust, and avoid penalties with best practices and helpful strategies for plan sponsors.
Explore SECURE 2.0’s new age-based catch-up contribution limits for 401(k), 403(b), and 457(b) plans starting January 1, 2025.
Explore Roth Employer Contributions under Secure 2.0 Act. Optional provision for plan sponsors. Consider implications for taxation and administration.
The 2024 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
Discover the ins and outs of 401(k) plan forfeitures – when and how to leverage them effectively. Uncover the key insights for smart financial planning.
Navigate the 401(K) ‘Large Plan’ Status: Understand the 80-120 Rule, Audit Requirements, and Changes for 2023. Ensure Compliance and Save Time
Understand RMDs: Mandatory withdrawals from retirement accounts explained. Learn deadlines, calculations, exemptions.
Explore mandatory Roth catch-up contributions and vital insights for plan sponsors. Prepare for upcoming changes now.