Benefit Insights Newsletter - Summer 2024
August 28, 2024
We are excited to deliver the Summer 2024 Newsletter.
In this edition, we discuss:
- Effective Communication with Participants
- Participant Notices: A Quick Overview
- Mastering the Art of Distributing Participant Notices
- Plan Ahead for 2025 Long-Term, Part-Time (LTPT) Employees
- Upcoming Compliance Deadlines for Calendar-Year Plans
There are an estimated two million non-profit organizations in the U.S. This includes public charities, private foundations, and other types of organizations, such as schools and religious institutions. These entities operate under different tax laws and structures than for-profit companies do.
As we approach the end of the year, it’s time for employers, plan sponsors, and participants to review the new retirement plan limits for 2026. Each year, the IRS updates the thresholds for contributions, compensation, and catch-up amounts to account for inflation and statutory changes. Staying on top of these numbers is critical for plan compliance, participant communications, and overall retirement strategy.
The Roth Catch-Up Trap: What High Earners Need to Know New rules can create costly surprises for older employees.