Companies Kick Into 401(k) Pool


Company contributions to 401(k) plans averaged 3.2% of pay for the 2007 plan year, according to the 51st Annual Survey of Profit Sharing and 401(k) Plans by the Profit Sharing/401k Council of America. Numerous formulas are used to determine company contributions. For plans with fixed matches, the most common matches are 50 cents per $1 up to the first 6% of pay (26.2% of plans), $1 per $1 up to the first 4% of pay (10.4% of plans) and $1 per $1 up to the first 3% of pay (8.1% of plans).

Source: Profit Sharing/401k Council of America, http://psca.org.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.