401k Advisors & Employee Benefit News
Benefit News by San Francisco 401(k) Advisors
FICA Limits 2012 — Likely To Increase Next Year 2011 saw temporary tax cuts for employees; there was a 2% reduction of FICA taxes for all employees. Typically, FICA taxes are collected on 7.65% of earnings. Prior to 2011, the rate has been 7.65% since the 1990s, but with the tax break, the 2011 FICA [...]
The Pension Protection Act of 2006 (PPA) contained several changes that become effective during the 2007 plan year (or later for collectively bargained plans). One such change is the requirement of more frequent, and more detailed, pension benefit statements. If your 401k plan allows for participant direction of investments, benefit statements must be provided quarterly. [...]
On October 28, 2010, the IRS announced 401k Contribution Limits for 2011 for participant elective deferrals and catch-up contributions (age 50 and over). In short, retirement plan contribution limits are unchanged from 2010 due to low inflation over the last year. 401k Contribution Limits 2011 2010 401k Participant Elective Deferrals $16,500 $16,500 Annual Defined Contribution [...]
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