Many employers offer 401k plans to their employees for varying reasons. However, the major incentive for starting one is the plan's tax deferral benefits, which allow high contribution limits. The current contribution limit for 2021 reaches up to $19,500 for employees...

The topic of adding ESG investments inside of a 401k plans has been a popular topic as of late. On March 10, 2021, the U.S. Department of Labor announced its endorsement of two rules which had been on hold under the Trump administration. The first rule that will not...

The 401k plan is among the most popular employer-sponsored retirement benefits plans in the United States. Data indicates that there were approximately 600,000 401k plans in 2020, with about 60 million active contributors.  In this article, we’ll discuss employer tax...

Choosing between a Simple IRA vs. a 401k can be overwhelming. After all, the plan that you choose will determine the trajectory of your small business going forward. Among other things, your decision for a retirement plan will determine your: Own retirement prospects...

No one outside the scientific community may have seen the coming of the COVID-19 pandemic. But come it did, and with it came significant shifts in various aspects of our life, including changes in the labor market.  The last thing that employers would have thought of...

Once upon a time, many employees working at private companies depended on a traditional, defined-based pension from their employer.  These days, many are pondering how to get their employer to offer a 401k plan. In 1978, 401(k) plans were created as a supplement to...

In January 2021 it seemed that everyone you ran into on the street was discussing the latest developments in the stock market. The experience was rather jarring for some. There has always been a class of people that meddles in the stock market, but it seemed that...

As an employer, there are two general goals attempting to be met when starting a retirement plan.  Either to retain and recruit high quality employees, or to save money on taxes while saving for your own retirement. For most, the Safe Harbor 401k is an easy way to...

As an employer, making the decision whether you should choose a 401k plan or a group health plan can be a difficult one. Employees have similar characteristics like consumers, and they value benefits from the company they choose to work for.  Before accepting a job,...

The number of self-employed Americans is rising by the day. According to Gallup, 30% of American workers were self-employed.  Being self-employed doesn't mean you'll fail to benefit from the tax benefits that formal employees get as conventional retirement plans....

401k's are a great way for employees to save up for retirement, and part of being a successful business owner is to understand how they work.  One aspect of 401k's you should be familiar with is "vesting".  This article will give a brief outline of vesting and its...

If some of your employees are receiving refunds from your company’s 401k plan, chances are your plan failed the annual IRS required compliance (nondiscrimination) tests. Although 401k plans have emerged as one of the most popular retirement plans in the US, they still...