Understanding 401(k) Terms: Sponsor & Third-Party Administrator
Posted: September 13, 2020
A 401(k) plan is an excellent benefit for employers to offer employees. It is a tax-deferred, defined-contribution retirement account that gets its name from a section of the IRS Code. Many employers offer matching funds for all or part of their employees’ contributions to a 401(k) plan. If you are opening a 401(k), two key terms to understand are “sponsor” and “third-party administrator.” What Is...
Common Questions & Answers About Business Insurance
Posted: September 4, 2020
Any business, large or small, needs a business insurance package. These packages are a combination of various types of coverage, designed to protect a business owner’s investment when the unexpected happens. Here, we provide answers to some commonly asked questions about business insurance. Why Is It So Important To Have Business Insurance? Owning a business brings opportunities, but it also comes with certain risks. Business...
Do I Need To Offer My Employees Dental & Vision Plans?
Posted: August 28, 2020
Under the Affordable Care Act (ACA), employers with 50 or more full-time employees must provide health insurance or pay a hefty penalty to the IRS. Smaller companies that are not required to provide health insurance to their employees can benefit from the Small Employer Health Care Tax Credit under ACA, provided they pay at least half of their employees’ health insurance premiums. But what about...
What Makes Restaurant Insurance Different From Other Business Insurance?
Posted: August 19, 2020
No matter how hard you work to ensure everything goes smoothly, problems can and do arise in a restaurant. Restaurant owners have exposure to a wide range of risks that make them vulnerable to liability and financial loss. Restaurant insurance is different from other types of business insurance as it is designed to address the unique risks faced by business owners in the foodservice industry....
What Happens To My 401(k) If I Move To A Different Country?
Posted: August 13, 2020
If you are a foreign worker in the U.S., planning to return home, or a U.S. citizen planning to move abroad, you may be wondering what happens to your 401(k) account when you leave the country. In this scenario, you have several different options from which to choose. Leave Your 401(k) In The U.S. When you leave your 401(k) in the U.S., you retain the...