Financial Wellness

Recent IRS snapshot regarding assumed distributions for affiliate loans reminds employers of the risk of failure with plan loans

The IRS recently released an issue snapshot (the “snapshot“), Which focus on retirement benefit participant loans and when certain compliance errors could trigger an assumed payout in respect of such loans. Specifically, the snapshot lists the following requirements, the failure of which will result in a participant loan being treated …

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IRS updates issue snapshot on affiliate loans

The IRS updated the Issue Snapshot on September 28th, which discusses the laws and regulations governing planned loans. Many retirement plans allow participants to borrow against their retirement accounts, although it is not required, the IRS reminds. Qualified plans that meet the requirements of Code Section 401 (a), retirement plans …

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Upgrade adds short term loans through BNPL

FinTech digital banking startup Upgrade is jumping into the Buy Now, Pay Later (BNPL) space with a product that enables users to pay off their outstanding debts in four months without interest, according to a CNBC report on Friday (Oct.1) . Upgrade creates installment plans that allow users to pay …

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Global market unit for online payday and installment loans, size, status and global outlook – Cashfloat, CashNetUSA, Creditstar, Lending Stream, Myjar, Silver Cloud Financial

The market is expected to grow at an average annual growth rate (CAGR) of xx percent from xx million US dollars in 2020 to xx million US dollars in 2027 during the forecast period. This is a fantastic resource for the business executive looking for in-depth knowledge. The size and …

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One-time settlement for home loans

IMPORTANT DECISIONS OF THE AP CABINET MEETING: The Andhra Pradesh State Cabinet, led by Prime Minister YS Jagan Mohan Reddy, made several key decisions on Thursday, including approving the One-Time Settlement Plan, the YSR AASARA program and providing an additional loan of Rs 35,000 for SHG women housing construction. Minister …

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