Explore Roth Employer Contributions under Secure 2.0 Act. Optional provision for plan sponsors. Consider implications for taxation and administration.
Guidance for Roth Employer Contributions
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401(k) Plans
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.
2024 Plan Limits Released
The 2024 Cost-Of-Living Adjustments affecting employee benefit plans include the annual limits for Social Security Taxable Wage Base.
An Explanation of 401(k) Plan Forfeitures, How and When They Should be Used
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.
New Audit Rules for 2023 5500 Forms
Navigate the 401(K) ‘Large Plan’ Status: Understand the 80-120 Rule, Audit Requirements, and Changes for 2023. Ensure Compliance and Save Time
Required Minimum Distributions (RMDs)
Understand RMDs: Mandatory withdrawals from retirement accounts explained. Learn deadlines, calculations, exemptions.
Mandatory Roth Catch-Up Contributions – Another Secure Act 2.0 Provision
Explore mandatory Roth catch-up contributions and vital insights for plan sponsors. Prepare for upcoming changes now.
Saver’s Tax Credit
Maximize your retirement savings with the Saver’s Tax Credit. Claim up to $1,000 ($2,000 for couples) on your 2023 tax return. Find out if you qualify!
Long Term Part Time (LTPT) Employees: The Impact to Your Plan Beginning in 2024
Discover the SECURE Act’s impact on plan eligibility and requirements for Long Term Part Time (LTPT) employees. Learn about changes, tracking hours, and employer contributions.
What a Failed ADP/ACP Test Means
Ensure your 401k retirement plan allows your employees to save the maximum amount allowed by understanding and utilizing ADP/ACP testing.
401(k) Plan Nondiscrimination Testing
Avoid penalties and fees by ensuring your retirement plan meets IRS 401k plan nondiscrimination test requirements.