Byline: HARRIET TRAMER Internal Revenue Service changes that recently went into effect boosted the amount employees can contribute to their 401k plans and raised the "catch-up'' contributions, or supplemental sums, that people older than 50 Byline: HARRIET TRAMER Internal Revenue...
Byline: Paul Schott Stevens "Will we be fair to future generations?'' That was the question posed recently by Federal Reserve Board Chairman Ben S. Bernanke in a speech to The Economic Club of Washington about the...
Fidelity testing 401k auto step-up Fidelity Investments wants to push the automated 401k plan into new territory with a feature that automatically steps up older employees' contributions to take advantage of the higher savings limit avail Fidelity testing...
Byline: JERRY GEISEL WASHINGTON-Final Internal Revenue Service 401k rules curb a low-cost approach that some employers have used to allow higher-paid employees to contribute more to 401k plans and still enable the plans to pass nondiscriminati Byline: JERRY GEISEL WASHINGTON-Final...
* The Senate Finance Committee unanimously approved last week legislation that would increase allowable annual contributions to $15,000, from $10,500, for 401k accounts and to $5,000, from $2,000, for individual retirement accounts. The mea * The Senate Finance...
BENTONVILLE, Ark.-Wal-Mart Corp. is giving its employees the option of using part of the company's annual contribution to their 401k plan benefits to pay for increases in health plan premiums. In the company's benefits handbook for 2002, employee BENTONVILLE, Ark.-Wal-Mart Corp. is giving its...
Byline: JERRY GEISEL PHILADELPHIA and TROY, Mich.-Two large employers, Lincoln Financial Group and ArvinMeritor Inc., last week said they will freeze their defined benefit pension plans and enhance their 401k plans. Effective Jan. 1, 2008, emp Byline: JERRY GEISEL ...
Byline: JERRY GEISEL WASHINGTON-Another obstacle blocking employers from adding Roth 401k plans has been lifted, but widespread employer adoption of the plans is at least several years away. Last week, the Internal Revenue Service finalized re Byline: JERRY GEISEL ...
WASHINGTON-Employers now have the official guidance on implementing a tax law provision that will allow older employees to make ``catch-up'' contributions to their 401k plans. That provision in the tax law enacted earlier this year allows employ WASHINGTON-Employers now have the official guidance...
How much time should an employer have to transfer employees' 401k plan salary deferrals from general corporate assets to the plan itself? While we don't have an exact answer, we know that just one day - the amount of time the Labor Department is proHow much...
WASHINGTON - Benefit managers are studying the advantages and potential pitfalls of an Internal Revenue Service private letter ruling permitting an employer to convert employees' unused vacation days into contributions to their 401k plan. Although tWASHINGTON - Benefit managers are studying the advantages and potential...
Byline: JERRY GEISEL WASHINGTON-Proposed Internal Revenue Service regulations released last week pave the way for employers next year to start offering a new type of tax-favored 401k plan. Created by Congress as part of a 2001 tax law and slat Byline:...
WASHINGTON -- The Internal Revenue Service is removing a major administrative hassle and expense for employers that want to offer generous 401k plans that are exempt from non-discrimination tests. A 1996 federal law that went into effect late las WASHINGTON -- The Internal Revenue...
Bush task force to review 401k safeguards In the wake of the loss of more than $1 billion by Enron Corp. 401k plan participants, the Bush administration will establish a multiagency task force to develop recommendations to prevent future threa Bush task force...
BOSTON - Sonesta International Hotels Corp., Boston, will freeze its defined benefit plan to all of its U.S. employees effective Dec. 31, and begin matching contributions up to 4% of employees' earnings to its 401k plan, according to an SEC filing. BOSTON - Sonesta International Hotels...
Company policy is tied to retirement comfort Some 401k plans help employees provide for the golden years. Others deliver a platinum retirement. Consider: An employee who joins Commonwealth Edison Co. in Chicago at age 35 with a salary of $65,000 andCompany policy is tied to retirement...
Byline: JERRY GEISEL ITASCA, Ill.-Another major employer is phasing out its defined benefit pension plan in favor of an enriched 401k plan. Arthur J. Gallagher & Co. froze its $137 million pension plan last month, with employees no longer Byline:...
The Internal Revenue Service has decided to prohibit the use of a nonqualified deferred compensation plan to collect 401k contributions until the 401k maximum could be determined at the end of each year. The approach was a creative solution to the dilThe Internal Revenue Service has decided to prohibit the...
Tech Data (Nasdaq-TECD) has suspended matching contributions to its 401k retirement plan. The change will save the hardware and software computer distributor ... Tech Data (Nasdaq-TECD) has suspended matching contributions to its 401k retirement plan. The change will save the hardware and software computer distributor...
WASHINGTON-The Internal Revenue Service is giving employers one more year to comply with a law designed to close a 401k/IRA tax loophole that complicates plan administration. Employers complained that they didn't have enough time to modify their WASHINGTON-The Internal Revenue Service is giving...
