403b

2023 IRS Plan Contribution Limits
Team SummitBudgeting & Debt, Employee Financial Resource Center, Employer Resource Center, Financial Planning, Plan Operations & AdminComments are off for this post
Highlights of Changes for 2023 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan has increased to $22,500. The catch-up contribution limit for employees aged 50 and over (and turning age 50 in 2023) who participate in these plans has also increased, from $6,500  Read More →
What is a Recession and What Does It Mean for Markets?
Team SummitEmployee Financial Resource Center, Employee Outcomes, Employer Resource Center, Financial Planning, Investment Management, Plan Investments, Retirement PlanningComments are off for this post
As the seasons change and the days get chillier, market trends are calling “doom and gloom” in the economy. Some argue that a recession is inevitable if not already here. What exactly does this mean and what should Americans do if, in fact, we are in a recession? What is a recession? Is the U.S.  Read More →
Match Matters Most: How Does Yours Stack Up?
Team SummitEmployee Outcomes, Employer Resource CenterComments are off for this post
Just how important is a 401(k) match to your employees? It appears to be top of mind, according to Principal’s 2021 Retirement Security Survey. The study’s results show that the match matters most, as the top retirement plan considerations of survey participants when considering a new job are as follows: employer match (91%), eligibility requirements  Read More →

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