The Major Pros and Cons of a Safe Harbor Plan A Safe Harbor Plan is a retirement savings option that can provide numerous benefits for both employers and employees. It is a type of 401(k) plan that includes certain features designed to encourage employee participation and make it easier for employers to meet nondiscrimination requirements. […]
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Safe Harbor Auto Enrollment: What Is It, What Are the Different Plans, and What Are the Requirements?
Safe Harbor Auto Enrollment: What Is It, What Are the Different Plans, and What Are the Requirements? Auto enrollment is a feature offered in retirement plans that encourages employees to save for their future by automatically enrolling them in the plan. Safe Harbor Auto Enrollment takes this concept a step further by providing certain benefits […]
The Advantages of a Defined Benefit Plan for Self Employed
The Advantages of a Defined Benefit Plan for Self Employed If you are a self-employed individual, you may be wondering what options you have for retirement planning. While many people are familiar with Individual Retirement Accounts (IRAs) and 401(k) plans, a lesser-known option that can provide significant advantages is a defined benefit plan. In this […]
Secure Act 2.0: Recent Changes
Secure Act 2.0: Recent Changes The SECURE Act 2.0, officially known as the Securing a Strong Retirement Act of 2021, is a proposed legislation aimed at improving retirement savings and expanding retirement plan access. If passed into law, this act would introduce several significant changes that could impact individuals’ retirement planning and financial strategies. In […]
401(k) Contribution Deadlines for 2023
401(k) Contribution Deadlines for 2023 When it comes to retiring, it’s essential to start planning your retirement contribution strategies for the upcoming fiscal year. One of the most popular retirement plans is the 401(k) plan, which allows employees to save for their retirement while also receiving tax benefits. In this post, we’ll cover the 401(k) […]