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Beware of Part-Time Employee 401(k) Plan Eligibility in 2024

Beware of Part-Time Employee 401(k) Plan Eligibility in 2024

Many 401(k) plans require employees to work for one year with 1,000 hours of service in order to be eligible to make elective salary deferrals. Because many part-time employees do not meet the 1,000 hour threshold, many of them never become eligible to make elective...
LIBOR Transition: Navigating the World of Synthetic LIBOR

LIBOR Transition: Navigating the World of Synthetic LIBOR

Once a cornerstone of the financial industry, the financial world recently bid farewell to the London Interbank Offered Rate (commonly referred to as “LIBOR”). As of June 30, 2023, overnight and 12-month LIBOR officially ceased to exist. Significant efforts have been...