401(k) true-up
What Is a 401(k) True-Up and Why Does It Matter? A 401(k) true-up is an additional year-end employer contribution designed to ensure employees receive the full match promised in their retirement plan. This adjustment applies only to 401(k) plans that offer employer matching contributions, and it’s typically used to correct shortfalls that may occur during […]
360-degree feedback survey
What Is a 360-Degree Feedback Survey? A 360-degree feedback survey is a multi-source performance evaluation tool used by companies to gather well-rounded feedback about an employee. Rather than relying only on a supervisor’s review, it incorporates input from various individuals, such as the employee’s manager, coworkers, direct reports, and sometimes even external parties like clients […]
147c letter
Understanding the 147C Letter: What It Means and How It Works The 147C letter is an official document issued by the Internal Revenue Service (IRS) upon request, used to confirm a business’s Employer Identification Number (EIN). Typically, business owners request this letter when they have lost or can’t locate their EIN. Does a 147C Letter […]
ABA routing number
What Is an ABA Routing Number? Understanding ABA Routing NumbersAn ABA routing number, also referred to as a routing transit number (RTN), is a unique nine-digit code used to identify U.S. financial institutions such as banks and credit unions. This number ensures that electronic transactions like direct deposits, bill payments, check processing, and wire transfers […]