As mentioned in IR-2024-217, the IRS has released interim guidance in late August 2024 allowing that employers with retirement plans (401(k) plan, 403(b) plan, governmental 457(b) plan or SIMPLE IRA plan) can provide matching for employees payments to their student loans in plan years beginning Dec 2023. Previously the employer matching was only if the
As the Social Security Board of Trustees (Federal government) estimates that from 2035, the payments of scheduled benefits might be reduced to around 75% (unless there is a reform to increase the fund assets), more and more States are requiring small businesses to join State programs offering retirement options to their employees, if not already
One of the best advice is to contribute to your private retirement as the contribution is a tax deduction (lower taxable income in your w2) and then, it will be taxed at the distribution time in the case of traditional retirement plans. This is extremely relevant as social security payments are expected to be partial
On November 4, the IRS released notice 2021-61 which contains technical guidance regarding all of the cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2022 . The IRS highlighted the following changes in their communication IR-2021-216: The contribution limit for employees who participate in 401(k), 403(b),
