Mar 16, 2023 | Choosing a Retirement Plan, SIMPLE 401(k) Plans, SIMPLE IRA Plans
SIMPLE 401(k) Plan Basics A SIMPLE 401(k) plan is a combination of a regular 401(k) plan and a SIMPLE IRA. When would a business choose this plan over a SIMPLE IRA or regular 401(k) Plan? NOT OFTEN. The SIMPLE 401(k) doesn’t provide meaningful advantages when...
Mar 16, 2023 | Choosing a Retirement Plan, SIMPLE IRA Plans
SIMPLE IRA Plan Basics A SIMPLE IRA plan allows employees to make contributions to a retirement plan from their pay just like a 401(k) plan, but the maximum deferral amount is lower ($16,000 vs $23,000.) Why would a business choose this plan over a 401(k) Plan? ...
Mar 29, 2015 | 401k Plans, 403b Plans, 457b Plans, automatic enrollment, SARSEP, SIMPLE IRA Plans
Employers and lawmakers have long grappled with how to increase employee participation in company-sponsored retirement plans. While participation has risen in recent years, especially at larger companies that have implemented automatic enrollment, the Department of...
