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      PostPress

      PostPress

      Print Decorating, Binding and Finishing

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        Blog

        Anticipated 2025 401(k) Contribution Limits: How Changes Benefit Business Owners

        August 7, 2024

        By Joe Trybula, CFP®, QPFC®, ACCREDITED INVESTMENT FIDUCIARY TM
        Diversified Financial Advisors, LLC (Printers 401K)

        As a financial advisor specializing in retirement programs, understanding the anticipated 2025 401(k) contribution limits is crucial for both employees and business owners. Let’s explore the projected changes and how they can benefit business owners in particular.

        Projected 2025 Limits

        Based on recent trends and inflation adjustments, the 2025 401(k) contribution limits are expected to increase. While the official numbers are not yet released, we anticipate the following:

        • Individual Contribution Limit: Potentially rising to $23,000 or more
        • Catch-Up Contribution Limit: Likely increasing to around $8,000 for those 50 and older

        Benefits for Business Owners

        Higher 401(k) contribution limits can offer several advantages to business owners, making it an opportune time to revisit retirement plan offerings and strategies.

        1. Attracting and Retaining Talent

        A robust 401(k) plan with higher contribution limits can be a key differentiator in attracting and retaining top talent. Employees value strong retirement benefits, and increasing the contribution limits enhances the attractiveness of your retirement plan.

        2. Tax Advantages

        Contributing to a 401(k) plan offers significant tax benefits. For business owners, higher contribution limits mean more substantial tax-deferred growth and potential tax deductions. This can reduce taxable income and provide immediate tax savings.

        3. Enhancing Employee Engagement

        Offering competitive retirement benefits can boost employee morale and engagement. When employees see that their employer is investing in their future, it fosters loyalty and increases job satisfaction, leading to a more productive workforce.

        4. Personal Retirement Savings

        As a business owner, you can also take advantage of the increased contribution limits for your personal retirement savings. Maximizing your contributions can enhance your financial security and ensure a comfortable retirement.

        Implementing Strategies

        To make the most of the anticipated 2025 401(k) contribution limits, consider the following strategies:

        1. Review and Update Your Plan

        Regularly review your 401(k) plan to ensure it remains competitive and meets the needs of your employees. Updating the plan to reflect the new contribution limits can make it more attractive and beneficial.

        2. Educate Employees

        Educate your employees about the benefits of maximizing their 401(k) contributions. Providing resources and guidance can help them understand the advantages and encourage higher participation rates.

        3. Consider Employer Matching

        Enhancing employer matching contributions can make your plan more appealing. Matching contributions not only benefit employees but also offer additional tax deductions for the business.

        Conclusion

        The anticipated 2025 401(k) contribution limits present a valuable opportunity for business owners to enhance their retirement plans. By understanding and leveraging these changes, you can attract and retain talent, enjoy tax advantages, and improve overall employee engagement. Stay proactive to optimize your retirement strategy and secure a prosperous future for both your business and your employees.

        For personalized advice on your retirement plan and comprehensive strategies to maximize the benefits of your 401k program, feel free to reach out.


        For further assistance or to schedule a consultation, contact Joe at joe@diversifiedfa.com or 800-307-0376.

        Disclosure: This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal or investment advice. Investment Advice and 3(38) Investment Fiduciary services offered through Diversified Financial Advisors, LLC, a Registered Investment Advisor. 3(16) Administrative Fiduciary Services provided by PISTL Service Corporation. Discretionary Trustee services provided by Printing Industries 401k Trustees. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

        Mohawk Fine Papers Launches Approach to Specifying Paper

        November 16, 2021

        Mohawk Fine Papers, Cohoes, New York, has introduce “Paper with a Plan,” a new attribute-driven approach to specifying paper.

        To assist in making informed paper selections, Mohawk has refined and reorganized its paper portfolio into five distinct collections, including the Beautiful, Sustainable, Expressive, Elevated and Practical collections, which help make choosing paper by its properties and attributes easier.

        All of the grades that Mohawk produces still exist, but the new Mohawk Collections eliminate the guesswork behind paper specification giving a simpler, more straightforward way to think about paper.

        “It is Mohawk’s belief that selecting paper should be simpler, not unlike other shopping experiences,” said Mike Madura, senior vice president of product. “While seasoned experts in the industry can easily navigate the detailed landscape of paper properties, new creators start the journey with little experience and even less knowledge of the world of paper and print.

        For more information, visit www.mohawkpaper.com.

        From the Editor: October 2020 ENews

        October 15, 2020

        In a typical October, I spend too much time in airports on the way to industry conferences and tradeshows. This year, airports will have to get by without me and my tendency to spend money on celebrity magazines and overpriced snacks … but, that doesn’t mean I have to miss out on industry education.

        The major industry events have gone virtual, and this means HUGE opportunities for you and your staff.

        Is there only one person in your organization who usually travels to industry events? Here’s your opportunity to “send” the entire company for free. Is there a tradeshow you’re curious about, in a market you’re thinking about entering? Here’s your chance to talk with suppliers or watch educational sessions to learn more.

        Two shows coming up quickly are the PRINTING United Digital Experience and PACK EXPO Connects. I’ve included more information on each of them here. And, don’t forget that content from the FSEA Online Conference (held virtually in June 2020) is available for free on-demand viewing at https://fseaconference.com/watch-now/. As always, feel free to call or email me if we can help you in any way!

        PRINTING United Digital Experience
        Oct. 26–Nov. 12

        The PRINTING United Digital Experience will bring 14 days of content-rich education, research, panels and product launches and demonstrations to your computer screen, from leading OEMs and suppliers across all market segments. Free registration for the three-week event is now live at digital.printingunited.com.

        Now with approximately 100 educational sessions planned and over 40 product launches across various industry verticals, the PRINTING United Digital Experience continues to be the event of the year for the industry to come together and experience the most powerful solutions and valuable resources. Once registration is completed online, attendees can select any days they’d like to participate in.

        Some of the days of interest to the print binding and finishing community include:

        • Oct. 28 | Commercial – Digital Inkjet Day
        • Oct. 29 | Packaging – Label and Flexible Day
        • Oct. 30 | Graphics/Wide Format – Finishing and Workflow
        • Nov. 4 | Packaging – Folding Carton and Corrugated
        • Nov. 5 | Mailing and Fulfillment

        PACK EXPO Connects
        Nov. 9 – 13

        PACK EXPO Connects will be like no other virtual event available today. PACK EXPO Connects will foster interactions between consumer-packaged goods (CPG) companies and top suppliers with an intuitive, state-of-the-art interactive platform that makes live engagement possible. Free registration for the event is available at http://nvyt.es/fffa46e54ca5223d02de.

        • Live chats, live product demos and engaging educational opportunities let attendees experience the power of PACK EXPO with leading industry suppliers available at their fingertips:
        • Live equipment demos: These time-efficient, 15-minute, live demonstrations will allow attendees to check out what’s new, ask questions and engage with leading suppliers in real time.
        • Live chat: Attendees can chat directly with suppliers during dedicated exhibit hours.
        • Educational content: Comprehensive educational content will feature thought-provoking sessions from leading suppliers and industry experts on packaging trends today.

        From the Editor: September 2020 ENews

        September 17, 2020

        Hello, everyone! Welcome to September! I hope you’re reading this with a pumpkin spice latte in your hand while you enjoy the first chilly days of fall. This year hasn’t been a lot of fun, but there’s something comforting in feeling the temperature drop and opening all the windows in the house to let a fresh breeze in. My plans for the weekend include a big pot of chili on the stove and football games on TV. (Yes, I know it will be almost 80 degrees in Kansas this weekend… stop judging me!)

        Back in 2015, we combined two magazines – The Binding Edge and InsideFinishing – to create PostPress. The industry was consolidating, with more crossover as binders and finishers added equipment to their facilities that took them into new markets and created new opportunities. Commercial printers also dipped toes into binding and finishing technologies, and more graphic designers and printers were coming to our pages to see what was possible in print decoration, so it made sense for us to consolidate our audiences.

        Over the years, we’ve shared a lot of articles. In the last five years alone, our quarterly magazine has published more than 1,500 pages of content in PostPress – and there are YEARS of content prior to 2015 from The Binding Edge and InsideFinishing. We wanted to make it easier for you to find that content, so we have categorized all of the articles from the past five years on the PostPress website. Now you can check out our features on applications, die management, decorating processes, makeready and so on. In addition, archives are available from the original magazines, stretching back to 1995.

        This was a big undertaking, but we’re excited to bring you this resource – a treasure trove of information from some of the best trade binders and finishers across the US, as well as articles from suppliers and industry experts. We’ll keep adding to it with every issue we publish.

        You can check it out at https://postpressmag.com/article-archive/.

        Have a great day, everyone. And, as always, let us know if we can support your businesses in any way.

        P.S. Now that Big 10 football is back… Go Big Red!

        From the Editor: August 2020 ENews

        August 20, 2020

        Hello, everyone! It’s August. The kids are headed back to school – sort of, depending on where you are located. Mine are starting next week with a hybrid model that will see them in the school building two days a week and at home for three. Sports are back, as long as you’re not a Husker fan like I am, but thank goodness I can watch Royals games – it makes life seem a little more normal.

        Work definitely hasn’t slowed down, and part of the reason I’m still swamped is because I’m taking time for business development activities. As a good friend of mine is fond of saying, we spend a lot of time working IN the business and very little time working ON the business.

        What does it look like to work ON the business? Well, for me, it means I’ve been seeking out some online education in the areas where I feel we need an extra boost. With almost all in-person events cancelled, the amount of online education that is specific to our industry is unbelievable.

        Of course, the Foil & Specialty Effects Association hosted an online conference in June and that content is still available for free, on-demand viewing at www.fseaconference.com.

        But there’s so much more. I saw a webinar opportunity about changes at the post office from APTech. I know Printing United and Pack Expo are ramping up to move their tradeshows to an online format. So many of our supplier partners are hosting Q&As with their product development and engineering teams. It’s a great time to look around and see what the opportunities for growth might be in your company.

        I’m also looking outside of our industry for education. How do I host an online event? What about a video plant tour? Or a video press check? Maybe now is a great time to boost our website or to look at my employee training practices. What do I NOT know that could make my life easier and our business better?

        There are a lot of things that aren’t fun about the business impacts of the pandemic. But there are opportunities, too. I’d encourage you to look around to see what your associations, suppliers and area business partners are providing in terms of educational growth. Have a great day, everyone. And, as always, let us know if we can support your businesses in any way.

        From the Editor: July 2020 ENews

        July 16, 2020

        Hello, everyone! We’re halfway through July, and I’m starting to hear that companies are beginning to allow outside visitors again, which is opening the doors for those who are ready to make personal visits to customers and prospects.

        However, many organizations are still very cautious, which requires some creativity on the part of sales professionals. I’ve been working on several sales and marketing articles lately, and I thought I’d use this video to share a few tips that might not make it into the magazines.

        • An industry supplier is having “practice” video calls with each of his sales staff to evaluate their background environment and camera angles, as well as taking the opportunity to get everyone more comfortable with making sales calls virtually, rather than in person. It takes some practice to get the camera angle right – gracious knows I still struggle with it.
        • Another industry supplier realized his company’s logo was on the sleeves of the sales staff’s shirts – and therefore not visible when he and his team participated in video calls. The supplier ordered new shirts with the logo displayed in the upper left chest area instead.
        • And if you’re not in the mood for another video call, what about emails? One company I know began sending weekly emails to its customers to keep them informed about the capacity and readiness of the plant. These emails also served as a marketing tool – each message included information about how the facility shifted to make medical supplies, how its employees were responding to the increased demand and how the company was prepared to continue supporting its customers. Some companies sent out one email or press release – this company sent consistent reminders about its commitment and capabilities.

        Whether you call it the “new normal” or just a pain in the rear, we’re all adjusting our ways of doing business. If you have an idea to share with the rest of the industry, let me know and I’ll work it into my next video.

        Have a great day, everyone. And, as always, let us know if we can support your businesses in any way.

        From the Editor: June 2020 ENews

        June 17, 2020

        From the Executive Director of FSEA: April 2020 ENews

        April 16, 2020

        From the Editor: March 2020 ENews

        March 18, 2020

        Hello, everyone! Boy, we are living in some strange times right now, aren’t we? I hope you’re all finding ways to work efficiently and spending more quality time with your families. I know at my house, we’re used to running every night to practices, concerts and other school or sports events. This quiet time at home is giving us the chance to tour museums online, play a few board games and watch endless episodes of “The Great British Baking Show”!

        But, what does all of this mean for your business? In this issue of the ENews, we’ve compiled links from the CDC, the WHO, OHSA, the US Chamber of Commerce and the Small Business Administration to provide guidance on operating through the pandemic. We know information changes every day, but we wanted you to be able to find the information you might need quickly, and I hope this helps you out.

        Also in this issue of the ENews is the sad news that the FSEA•IADD Joint Conference has been canceled. The event was originally scheduled for the end of April in Indianapolis. The FSEA and IADD are hoping to reschedule for later in the year. Of course, this isn’t the only event to cancel in our industry. Drupa and TAGA also have canceled, putting safety first.

        So, I’m a “bright side” kind of girl, and I went looking for the positive in this situation – but I didn’t have to look far. Here’s our opportunity to improve our skill sets, to get some preventive maintenance done on machines, to clean the shop floor until it shines. It’s an opportunity to watch webinars and read articles. It’s an opportunity to cross-train employees. And maybe, if we focus on what we can do to make improvements right now, we can all come out of this in a better place when the restrictions aren’t necessary anymore.

        If those of us at PostPress can do anything for you, let us know. If there’s information you’re looking for or a supplier connection you want to make, we are happy to help. And, we’ll be looking to put together some webinars to keep new information coming your way.

        From the Editor: February 2020 ENews

        February 27, 2020

        Hi, all! Can you believe we are already nearing the end of February? We’ve had a busy start to the year, and I hope all of you have, too.

        Here at the PostPress offices, we’ve been working hard on the upcoming issue of the magazine. We’re focusing on the outlook for 2020, with an economic update from the Printing Industries Association, a look ahead at drupa, and an article on how offset bindery equipment is adjusting through automation to meet changing shop needs. There’s a lot of optimism right now, and we’re excited to ride that wave. But, there are questions, too. Consumers are obsessed with sustainability these days – we’re getting questions about whether or not print finishing techniques like foil stamping or UV coating are recyclable, and I’m sure you are, too. So, we’re adding a Sustainability column to the magazine this year – hopefully, that will help you to answer questions from your customers and prospects.

        Another way to learn more about the sustainability and recyclability issues facing those who work in the print finishing arena is to attend the FSEA IADD Joint Conference. It will be held at the end of April in Indianapolis. SGIA’s Gary Jones will be there to lead a keynote discussion about what is happening and how the print industry can respond. Gary is the director of EHS for SGIA, and he has long been an expert on this topic – he’s going to be an amazing resource for those attending the conference.

        In this issue of the ENews, we’re tackling another issue that hits home – security printing. Holograms are hot as brand owners are stepping up their game to stump counterfeiters. Be sure to click through to learn more about the latest developments. We also are featuring a fun story on a cannabis cigarette package from Studio on Fire. Ben has really specialized in this emerging market, and he’s doing gorgeous work.

        That’s it for me today. I’ll be chatting with you all again next month. In the meantime, have a great week, everyone!

        Next Page »



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