Benefits

Grant Thornton’s latest research reveals it has been slow, increasing only half a percentage point to 32.4% in the past year, and only 13% since the research was first undertaken in 2003. 

Beginning in 2024, employers may allow plan participants to use a special emergency savings account. This “sidecar account” is capped at $2,500.

Expect some guidance from the IRS before the change takes effect. In the meantime, continue to take the old rules in account for retirement planning and tax purposes.

Networking is an excellent way for seniors to connect with others and stay involved in the community. It can help them stay active, and learn new things.

Many firms that offer advisory services see a positive impact on relationships with clients, financial growth, and more. 

If an employer includes an automatic enrollment feature in its 401(k) plan, it may encourage greater participation among the rank-and-file, especially younger workers.

AP is the top digitization priority in the back office for finance teams in 2023 because it addresses four of the biggest challenges they face.

This offers ideal opportunities to strengthen client relationships and even potentially put better processes and procedures in place ahead of next year’s tax season.