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…employers to follow suit. However, when one considers the circumstances of IBM’s current retirement benefits program, it is easier to see why this seemingly drastic change made sense for IBM … and for its employees as well. That said, it does not mean this strategy…

…guidance: Sponsors may but are not required to include in their plan any type of Roth contribution – employee elective, employer matching, or employer nonelective. The rules currently (pre-SECURE 2.0) applicable to employee elective Roth contributions also generally apply to the new Roth employer contributions….

…the better, but they can also be costly. And it’s costing plan sponsors a bundle. Employee Benefits Security Administration (EBSA) unit restored over $1.4 billion to employee benefit plans, participants and beneficiaries in FY 2023*. A vast majority of the VFCP submissions were from oversights…

…enactment, for the first 3 years of a new employer’s existence, or to employers with 10 or fewer employees. The “Grab Bag” Notice provides that: For purposes of the exception for plans established before the date of enactment of SECURE 2.0, a plan is considered…

…they must consider reining in costs. While responding to diverse individual needs, they must maintain academic rigor. And while attracting the best talent, they must also strive to retain employees with an attractive array of benefits. 403(b) plans have undergone tremendous change For the nonprofit…

…consist of strictly employee contributions or a combination of employee and discretionary employer contributions. With catch-up contributions, the maximum annual contribution amount in a 401(k) with profit sharing is good. Consider a 65-year-old owner; in 2024, he could defer up to $30,500 plus make an…