401(k) Contribution Limit Increase

On October 19, the IRS announced an increase in the contribution limits for employees who participate in 401(k), 403(b), and most 457 plans. For 2018 the new limit will be increased from $18,000 to $18,500. However, the catch-up contribution limit for employees aged 50 or over remains unchanged at $6,000 annually.

2015’s 401(k) Contribution Limit Increases to $18,000

The Internal Revenue Service announced today that contribution limits for 401(k) plans and individual retirement accounts will increase due to cost-of-living adjustments.  The maximum amount of contributions an employee can make to their 401(k) plan is determined each year by the IRS.  “Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met …

Happy 40th Anniversary ERISA

The Employee Retirement Income Security Act of 1974 (ERISA) was signed into law on Labor Day, September 2, 1974 by President Gerald Ford.  This federal law provides protection to participating employees in employer sponsored health and retirement plans. Forty years ago many employers offered employees retirement packages and pensions. Where an employee would work for many years at a company, …

Finding Lost Pensions

My old employer is no longer in business. How do I go about locating or finding that pension plan? If you have a old pension plan and can not find your old employer contact the Pension Benefit Guaranty Corporation to begin finding your retirement money. Include your name, address, phone number, date of birth and social security number. You will also need …

401k Plans

The benefits of investing in a retirement savings plan One of the many benefits a PEO provides to it’s clients and employees is a 401k retirement plan. Transamerica is the provider of the StaffScapes, Inc 401k plan. What are the benefits of investing in a retirement program?  Transamerica web site has many tips and education materials about starting, investing, and …

PEO & 401K Plans

PEOs allow you the freedom to custom design a plan and eliminate the testing hassles of a plan that come along with having small business. Are you looking to add a 40k plan to your business or do you have a plan in place and hate the expense or testing problems that come with having a 401K plan? Does your …