Tag Archives: retirement savings

Employer-sponsored retirement-savings plans, including 401(k)s and 403(bs), are critical for helping businesses attract and retain skilled employees. However, due to government regulations and annual contribution limits, these qualified plans restrict highly compensated employees’ savings opportunities and their ability to build enough wealth to maintain their standard of living in retirement. To bridge this savings shortfall […]

The IRS released the retirement savings plan contribution limits for 2025, raising the cap on pre-tax contributions to employer-sponsored plans, including 401(k), 403(b) and certain 457 plans. For individual retirement plan contributions, the annual limits remain unchanged. Employer-Sponsored Retirement Plans Employees may contribute up to $23,500 via salary deferral to their workplace 401(k), 403(b) and […]

High interest rates and persistent inflation have raised red flags for many investors nearing or entering retirement. In this uncertain environment, soon-to-be retirees are increasingly turning to annuities to help diversify and protect their retirement savings while creating a steady and predictable income stream for all their remaining living years. Determining whether annuity products are […]

The IRS released its 2024 cost-of-living adjustments for retirement savers. Among the highlights are higher annual contribution limits to qualifying plans and higher income limits for individuals to make deductible contributions to traditional Individual Retirement Arrangements (IRAs) or make a taxable contribution to a Roth IRA. Employer-Sponsored Retirement Plans For 2024, the maximum contribution employees […]

The IRS is providing high-income taxpayers with two years of relief from a Secure Act 2.0 provision that would have required them to begin allocating catch-up contributions to their 401(k)s on a Roth basis beginning in 2024. Section 603 of the Secure Act 2.0 called for 401(k), 403(b) and 457(b) plan participants age 50 and […]

With the end of the year around the corner, you have a limited amount of time to maximize your retirement savings opportunities in the most tax-efficient manner. Following are some steps to consider taking before December 31. Max out your contribution to a workplace 401(k) retirement plan. For 2024, the maximum amount you may defer […]

Planning for retirement is often the last thing recent college graduates consider upon entering the job market and earning a steady income. However, there is no minimum age when people should start thinking about saving for the future, whether it is for the purchase of a new car or home, to support a growing family, […]

Saving for retirement through an employer’s 401(k) plan is a great way to invest in yourself – both for today and for your future. With each contribution to your plan, you essentially pay yourself (rather than Uncle Sam) and allow those payments to stay invested in the market, where they have the potential to grow […]