California has implemented a state retirement mandate that requires businesses that employ five or more employees to offer a qualified retirement plan or register with the state option, CalSavers. An employer is not required to participate in CalSavers if it sponsors or participates in a retirement plan such as a 401(k) plan or pension plan. In order to be exempt from CalSavers, an employer may sponsor a retirement plan for any of its employees; California employees need not be covered by the retirement plan in order for the employer to be exempt.
Want to explore the advantages of offering your employees a 401(k) benefit instead of the state retirement plan?
The ASCCA program offers you an easy, affordable opportunity to provide a 401k retirement plan to your employees.
A better fit for you and your employees
Less risk for you also means more security for the employees you manage. This can lead to better and more qualified employees.
Cost Effective
Pooling hundreds of company retirement plans together provides scale that allows the ASCCA 401K Retirement Plan Exchange® to provide members with lower cost even with expanded services.
Outsource Administration
Over 90% of your administrative tasks will be handled through the outsourcing administrative duties to retirement professionals.
Outsource Liability
Simply failing to file a 5500 tax form on time can cost as much as $2,140 Dollars PER DAY! Plans administered through the Retirement Plan Exchange are designed to meet IRS and DOL regulations.
