My 401(k) Is "Frozen" — What Does This Mean & Why Did It Happen?
Posted: April 28, 2020
The decision to freeze a 401(k) is made by company management. This often occurs after a merger, while the new company decides what to do with its inherited 401(k) plan. If your 401(k) has been frozen, you won’t be able to make any withdrawals or make any new contributions as long as the freeze continues. In most cases, you can move assets from one investment...
Will My HSA Expire If I Stop Contributing To It?
Posted: April 13, 2020
A health savings account (HSA) is designed to stay with you for life, but you could lose it if you don’t use it. The following is information you may not know about your HSA, including how to keep it if you have stopped using it. What Is An HSA? HSAs were created to make medical expenses more affordable. They allow people with high-deductible health plans...
Traditional 401(k) Vs. Roth 401(k)
Posted: March 28, 2020
The Roth 401(k) was introduced in 2006 and is becoming increasingly more common. The bigger the company, the more likely it is that employees will have the option of contributing to a Roth 401(k). Although the traditional 401(k) and the Roth 401(k) share some similarities, there are also major differences between the two. What Is A Roth 401(k)? A Roth 401(k) is a type of...
Top 7 Considerations When Choosing A Group Health Plan To Offer
Posted: March 13, 2020
Employee benefits are a key factor in recruiting and retaining top talent. Group health insurance is an important part of your employee benefits package that helps your company compete in the marketplace. If you are shopping for a group health plan, the following rank among the top factors to consider. Number Of Employees To be eligible for group health insurance, you must have between one...
What Happens If I Stop Adding To My 401(k)?
Posted: February 28, 2020
Contributions to a 401(k) can stop for a variety of reasons. You may have been laid off or fired or left your job voluntarily. You could also choose to stop your 401(k) contributions while still employed with the company, with no penalty for doing so. What happens to your 401(k) after you stop adding to it may be largely up to you, depending on the...
