Business owners with 5 or more employees (full time and part time) need to understand, and comply, with the new Cal-Savers “state mandated” retirement plan requirements. your La Verne Chamber is prepared to…
- Help you understand the requirements on the law.
- Explain the underlying Cal-Savers plan, which is privately managed, but with State of California “oversight”.
- Offer you an alternative with more… benefits, tax-deductions, investment choices, and plan design flexibility.
The State of California is requiring yet another obligation on small business owners. Beginning October 2020 businesses with 100 or more employees are required to offer retirement plans for employees (which is good for everyone to do),by July 2022 that ceiling lowers to 5 employees. As the State proposed plan has limitations and very little appeal to most employees, the La Verne Chamber of Commerce has an option. You can comply AND offer benefits your employees with appreciate. Next Tuesday November 24, at La Verne Chamber’s “Power Hour”, we will be explaining the new mandate and unveiling your options as a Chamber member. We will be presenting our newest Chamber Member Benefit, an MEP, Multiple Employer Plan. With this plan, you can comply with State mandates and really add benefits for your company, you will help retain your best employees, attract new quality employees, and help prepare your for your ultimate “financially sound” retirement.
