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Alight was formed in May 2017 after the acquisition of the benefits outsourcing department of Aon Hewitt by private equity funds affiliated with Blackstone Group L.P. [3] [4] It is headquartered in Chicago, Illinois. [5] [6] In August 2024, Dave Guilmette was hired as a new CEO of the company. [7]
The 401(k) has two varieties: the traditional 401(k) and the Roth 401(k). Traditional 401(k): Employee contributions are made with pretax dollars, lowering your taxable income. Your contributions ...
In the 1980s Hewitt researched numerous issues and began issuing its findings industry-wide on subjects such as computer use for automated benefit calculations, offering benefits to part-time employees, full versus partial hospital reimbursement, fluctuating profit-sharing percentages, mental health benefits, 401(k) programs, and rising health ...
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There is also a maximum 401(k) contribution limit that applies to all employee and employer 401(k) contributions in a calendar year. This limit is the section 415 limit, which is the lesser of 100% of the employee's total pre-tax compensation or $56,000 for 2019, or $57,000 in 2020.
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The set-it-and-forget-it approach of 401(k)s provides employees with a sure and steady wealth-builder. The focus on pre-tax contributions also lowers the contributor’s taxable income, though ...