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Starting in 2024, a new provision under Section 110 of the SECURE 2.0 Act allows employers to offer matching contributions to 401(k), 403(b), governmental 457(b) plans, and SIMPLE IRAs based on employees’ qualified student loan payments (QSLPs) instead of their traditional elective contributions. This change aims to help employees who are burdened by student loans

Decades ago, Milton Friedman explained that monetary policy impacts the economy with long and unpredictable delays. Recent reports indicate that the effects of the monetary tightening in 2022-23 are starting to wane. Both inflation and economic growth are slowing down. In June, consumer prices dropped by 0.1%, the biggest monthly decrease since the early COVID

What is a Safe Harbor 401(k) Plan? A Safe Harbor 401(k) plan is a type of retirement plan that helps employers meet IRS nondiscrimination requirements. These plans require the employer to contribute to employees’ 401(k) accounts, which can help employees save more for retirement and ensure the plan benefits all employees, not just those with

The Internal Revenue Service (IRS) recently extended relief for certain beneficiaries regarding required minimum distributions (RMDs) through 2024. Notice 2024-35, released on April 16, 2024, provides an extension of existing relief for beneficiaries taking RMDs over a 10-year period following the death of a participant or IRA owner who had already begun RMDs. This extension

Retirement planning is essential to securing your financial future, and individual retirement accounts (IRAs) play a pivotal role in this journey. When it comes to IRAs, there are two primary options: ROTH IRA and Traditional IRA. The decision between the two can significantly impact your retirement savings. Let’s explore the differences between ROTH and Traditional