California Retirement Plan– Here’s what you need to know
· Effective June 30th, 2022 State law required that California employers must offer an employee-sponsored retirement plan if they have more than 5 employees.
· There could be fines of up to $750 per employee if the plan is not implemented
· Offering a 401K plan creates a strong value to your business and in doing so represents a real effort for a great experience with a company.
· Research shows that work engagement and satisfaction increase with better benefits so make sure if you have a company with over 5 employees that you have a California Retirement Plan.
Contact us today if you need to add retirement plan for your employees, we are here to serve.
