The premier cannabis industry business solutions company Green Leaf Business Solutions explains the benefits of 401(k) and CalSavers, California’s new retirement savings program
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One of California’s most in-demand providers of business solutions for the cannabis industry, Green Leaf Business Solutions, explains the perks of 401(k) and CalSavers, both of which recently became available to cannabis industry employers and employees. The company wants its clients to understand how the new retirement savings tools work and how introducing retirement options, be it 401(k) or CalSavers into the cannabis industry can help drive business growth.
Access to affordable workplace retirement savings tools has been severely lacking in California, but the state has been working hard to change that, especially over the past several years. California businesses with a minimum of 5 employees are required to comply with the mandate and set up a retirement plan by June 30, 2022.
CalSavers is a California state-run program overseen by the CalSavers Retirement Savings Board, an independent government agency. The program is designed for private sector workers who would otherwise not have access to retirement plans.
CalSavers makes it possible for workers of employers in California who do not offer retirement plans to save for retirement by enabling these workers to turn a portion of their pay into investments through payroll contributions with their employer.
Alternatively, a business can offer a 401(k) to meet the legal requirement. In the past, cannabis companies were not able to offer attractive and comprehensive retirement plan solutions to their workforce. Now, access to a 401(k) plan is available in all 50 states.
“We are excited by this turn of events and the fact that businesses can now choose between CalSavers, a state-run program, and 401(k), a company-sponsored private-market option. This puts workers in the cannabis industry in a much better position.” – says Tyler Priest, a founding member of Green Leaf Business Solutions.
Mr. Priest continues: “California business owners with 5 or more employees have until June 30, 2022 to have a retirement plan in place. Enrolling in CalSavers is not a complicated or time-consuming process, and neither is opting out of it, and the same goes for 401(k). This is a major step forward and good news for employers and employees alike, especially those in the cannabis industry.”
“Green Leaf Business Solutions is here to help businesses in the cannabis industry make an informed decision and choose the optimal plan for their business.”, adds Mr. Priest.
About Green Leaf Business Solutions: Green Leaf Business Solutions provides integrated payroll & HR services for businesses in the cannabis industry in California and across the U.S. Clients can rely on Green Leaf Business Solutions to provide tailored solutions that accommodate their needs.
For more information please visit https://greenleafbizsolutions.com/
Contact Info:
Name: Tyler Priest
Email: Send Email
Organization: Green Leaf Payroll and Business Solutions
Address: 410 S. Melrose Dr. Suite 207 Vista, CA 92081
Phone: (760) 237-0559
Website: https://greenleafbizsolutions.com/
Release ID: 89074664
