2025 401(k) Contribution Limits Explained
Saving for retirement is one of the most important—and often overwhelming—financial goals. For those using a 401(k) to build their nest egg, the Internal Revenue Service (IRS) sets annual contribution limits to help you maximize your savings while adhering to federal guidelines. Each year, these limits are adjusted, typically as a response to inflation and […]
Understanding the Student Loan Match Feature in 401(k) Plans
As student loan debt continues to affect millions of Americans, employees are facing the challenge of managing financial burdens while still saving for retirement. The introduction of a student loan match feature in 401(k) plans presents a viable solution that has a lot of potential, especially for a younger workforce. What is the Student Loan […]
Understanding the Automatic Contribution Arrangement (ACA)
Financial security in retirement is a goal many aspire to achieve, but saving for the future can often fall by the wayside in the midst of life’s immediate priorities. Enter the Automatic Contribution Arrangement (ACA) — a framework designed to simplify and encourage consistent retirement savings through employer-sponsored plans. What is ACA? The Automatic Contribution […]
Year-End Checklist for Payroll and Benefits Compliance
As 2024 comes to an end and things quiet down for a few days, it’s a good opportunity for outsourced payroll and benefits administrators to make sure 2025 begins in full compliance. Here’s a list of important items you’ll hopefully have buttoned up already. 1. Payroll Compliance 2. Benefits Compliance 3. Tax Compliance 4. Vendor […]
Small Business 401(k) Questions and How Accountants Can Answer Them
In my 25 years working with accountants, I have learned that small business owners lean on their accountants heavily. They’ll look to them for not only financial advice, but even technology and business development. Questions about retirement options and 401(k)s are common, and smart accountants need to have answers ready. Here’s how to lead your […]
Announcing 401GO’s Cash Balance Plan Education Webinar Series
In October, 401GO co-founder Jared Porter was a panelist on a webinar dedicated to helping financial advisors better understand the cash balance plan. That event was very well received and resulted in several attendees asking for additional training. We work hard to listen to our advisor partners, and have launched a cash balance education webinar […]
Everything Is Easy with 401GO – Especially the 401(k) Setup Process
I remember when I sold my first 401(k) plan back in…well, let’s just say it was long enough ago that my company at the time required us to fax in the client’s new plan paperwork to initiate the setup process. Yep, I said “fax”. It wasn’t just a few pages and a few signatures. It […]
SIMPLE IRA and 401(k): Understanding the Key Differences
When considering starting a retirement plan, businesses have several options, with the SIMPLE IRA and 401(k) being two of the most popular choices. Both plans offer tax advantages and help owners and employees save for retirement, but they differ in terms of contribution limits, administrative requirements, and flexibility.
Why It’s Important to Think About a Safe Harbor 401(k) Plan Now
You’ll hear a lot about Safe Harbor 401(k) plans this month, and with good reason. But they come with a few regulations that business owners need to be aware of.
Why Your Startup Needs a 401(k) Plan Today
As a founder, you’re constantly juggling different responsibilities, from securing funding to building a strong team. You might wonder whether offering benefits such as a 401(k) plan is worth the effort and expense.