Although not required by law, many 401(k) plans offer a loan provision as a way for plan participants to access money prior to retirement. The thinking is that more employees will contribute to the plan if they know they can tap into their savings should they incur an unexpected expense while working; conversely, if employees can only access their savings at retirement, employees may decide not to contribute at all.
Key strategies to help employers maximize savings and minimize taxes.
The average American will change jobs 12 times. Searching for a better quality of life, workplace benefits or change of scenery has led Americans to move careers, with frequency. But what happens to their old 401(k) account? Help your employees understand their four options. Share this helpful infographic that breaks down the pros and cons of each distribution.
The most comprehensive pension reform in 20 years, the SECURE Act, is a step forward to allow people greater access to retirement plans.
The use of automatic features in 401(k) plans has continued to climb in popularity over the past decade. In fact, auto features such as automatic enrollment and auto-escalation are considered best practices in 401(k) plan design as ways to help boost participation and employee savings rates.
Total rewards programs are a vital part of workplace culture, employee performance and securing top talent. Learn how program enhancements can help meet the demands of a changing workplace and workforce.
