|
|
Claim your Copy of
Top 100 FLSA
Overtime Q&As
Your email address will not be published. Required fields are marked *

Retirement Savings/401(k): What you need to know

What do employers need to consider regarding retirement savings and 401(k) plans? One of the most popular and widely offered retirement plan options is the cash-or-deferred arrangement (CODA), commonly known as a 401(k) plan, after the section of the Internal Revenue Code (IRC) that authorizes them. A CODA is a special type of defined contribution plan under which an eligible employee can elect to have the employer defer part of his or her salary and contribute the deferred amount to the plan or receive the full amount of the salary as cash. If an employee chooses to defer compensation, it is not subject to income taxation until it is withdrawn from the plan.
The advent of the 401(k) plan began a major shift in the way Americans plan and save for retirement. The days of relying on traditional employer-provided pension plans as the primary source of retirement income are fast becoming extinct. In their place are 401(k) plans in which employees can save for retirement on a pretax basis, and employers can better control their retirement costs because there are no minimum funding levels or guaranteed retirement benefits.
Other employer-sponsored retirement plans that are similar to but simpler to administer than 401(k) plans include simplified employee pensions (SEPs) and SIMPLE Plans. These plans have specified minimum requirements and offer less design flexibility in return for simple administration. Additionally, educational institutions and nonprofit organizations may provide 403(b) plans for their employees. Government employers may sponsor 457 plans. These plans have many of the same features and restrictions as 401(k) plans.
For a Limited Time receive a FREE Compensation Market Analysis Report! Find out how much you should be paying to attract and retain the best applicants and employees, with customized information for your industry, location, and job. Get Your Report Now!
Because 401(k) plans are ...

>> Read more about Retirement Savings/401(k)

Related Topics

More on this topic:

Retirement Savings/401(k) Resources

Retirement Savings/401(k) Products

Lifetime Income Benefit Regulations Webinar Recording
BLR Webinar: "Lifetime Income Benefit Regulations Explained: New Options and Obligations for Employers""
Free Special Reports
Get Your FREE Special Report. Download Any One Of These FREE Special Reports, Instantly!
Featured Special Report
Claim Your Free Copy of Top 100 FLSA Overtime Q&As

We’ve compiled a list of the 100 most commonly asked questions we have received on the federal Fair Labor Standards Act (FLSA) overtime regulations.
Download Now!


This report, "Top 100 FLSA Q&As", is designed to provide you with an examination of the federal FLSA overtime regulations in Q&A format, including valuable tips for bringing your workplace into compliance in an affordable manner.

At the end of the report, you will find a list of state resources on wage and hour issues. This report includes practical advice on topics such as:
  • FLSA Coverage: How FLSA regulations apply to all employers and any specific exemptions from the overtime requirements
  • Salary Level: Qualifying for exemptions and nonexempt employees
  • Deductions from Pay: Deducting for violations, disciplinary reasons, sick leave, or personal leave


Download Now!