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Primark Benefits is continually monitoring legislative updates. As such, we are sharing this reminder about the “super catch-up" contributions available under The SECURE 2.0 Act, in effect as of the start of 2025.

For most Americans, the primary source of retirement savings comes through workplace plans. Despite perceptions that others may save through brokerage accounts or insurance policies, statistics show workplace plans are the cornerstone of retirement security. Individuals are 15 times more likely to open and fund a 401(k) at work than to set up an IRA independently, with over 56% of American workers participating in a workplace retirement plan.[1] These plans provide a clear path toward financial stability in retirement and reduce reliance on Social Security alone.

The new Retirement Plan Contribution Limits are official!

Mistakes happen–Here’s how to correct common 401(k) plan errors.

Profit sharing is not just a tool to reduce your company's tax liability; it is also a powerful means of expressing gratitude towards your employees.

Gain actionable insights for optimizing efficiency and compliance through strategic plan analysis. 

The use of automatic features in 401(k) plans has continued to climb in popularity over the past decade. In fact, auto features such as automatic enrollment and auto escalation are considered best practices in 401(k) plan design as ways to help boost participation and employee savings rates.[1] Many large 401(k) retirement plans offer auto features. However, small business plan sponsors have been slower to adopt them as part of their 401(k) plan design. If your company’s retirement plan design doesn’t currently include auto features, and/or if you’re thinking about implementing them, then keep reading.

Key strategies to help employers maximize savings and minimize taxes.

To help prevent potential retirement delays, consider retirement income solutions to boost participants’ confidence in their future financial security.

Balance cost and competitiveness without compromise.

We are excited to deliver the Summer 2024 Newsletter.

As we approach the end of 2024, there are plenty of important deadlines to be mindful of. Staying on top of these deadlines contributes to the ongoing compliance of your plan and provides a seamless experience for your employees.

Exploring current ERISA and DOL areas of interest

Some provisions of SECURE 2.0 have already taken effect, and more will become effective soon. For plan sponsors, preparation is the key. Starting early allows for a thorough consideration of how SECURE 2.0 provisions may impact enrollment, contributions, and other aspects of your 401(k) plan. This will help you align your plan with regulatory requirements while continuing to meet both employer and employee needs.

Let’s explore some of the critical elements of workplace retirement plans.

For business owners, striking a balance between operating costs and profit is the cornerstone of success.

Navigating retirement preparedness across generations

Employees late in their careers need information that helps smooth the transition into retirement.

Practical tips for Gen X and Millennial workers to save for retirement

Cyber-crime is on the rise worldwide. As a result, growing numbers of organizations are taking critical steps to protect their valuable electronic data from hackers and other cyber criminals — a process known as cybersecurity. It’s serious business, and a trend retirement plan sponsors and committees should pay attention to.

Total rewards programs are a vital part of workplace culture, employee performance and securing top talent. Learn how program enhancements can help meet the demands of a changing workplace and workforce.