We are thrilled to announce our groundbreaking collaboration aimed at enhancing our secure and compliant 401(k) solutions tailored specifically for the cannabis industry! With very few retirement plan providers serving this sector, we’ve teamed up with top-tier service providers to tackle the unique challenges cannabis businesses face, especially around complex financial regulations.
Managing the complexities of a large plan audit can be a significant source of stress. The key to a more streamlined audit process is to partner with a service provider who delivers outstanding service and expertise.
Leading Retirement Solutions (LRS) proudly reasserts our dedication to supporting cannabis companies with top-tier retirement solutions, even amidst industry disruptions.
ERISA is turning 50 this year and continues to play a crucial role in protecting the retirement security of millions of Americans. Over the past five decades, ERISA has helped to safeguard retirement savings, provide transparency in plan management, and establish fiduciary responsibilities for those overseeing pension plans.
The U.S. DEA's potential reclassification of marijuana from Schedule I to Schedule III could benefit the cannabis industry by reducing federal restrictions and taxation burdens. However, challenges remain for the financial and retirement savings sector due to ongoing federal illegality. Experts caution that while reclassification may improve access to prescriptions, banking and investment services may still be limited. Industry leaders are cautiously optimistic, recognizing that changes may take time and legislative approvals.
The cannabis industry is expanding rapidly, creating a demand for comprehensive employee benefits. Leading Retirement Solutions offers cannabis-friendly 401(k) plans since 2017, increasing retirement plan participation by 305%. We support businesses of all sizes in providing financial security for thousands of cannabis workers, aiming to offer equal benefits across sectors.
A new kind of multiple employer retirement plan, the pooled employer plan (PEP), offers a powerful alternative to a standalone plan, especially for smaller employers who may be wary of the expense and legal burdens associated with plan sponsorship.
2024 is approaching and many provisions from Secure Act 2.0 are going into effect for the New Year. This means we can anticipate significant changes and advancements that will offer new opportunities for businesses and employees.
Emergency distributions from retirement plans can provide much-needed financial relief during times of hardship. However, there are advantages and disadvantages to consider when contemplating an emergency distribution.
Business owners can save 30 hours a year by integrating their payroll system with their retirement plans. By connecting payroll and retirement plan data, employers can enhance their operations overall efficiency and effectiveness
Long-term part-time (LTPT) employment eligibility is a topic that has become increasingly relevant in recent years. Secure Act 2.0 passed a provision that builds on the SECURE Act requirement allowing increased eligibility for long-term part-time workers to participate in employer-sponsored plans.
Many businesses undergo restructuring such as mergers, acquisitions, or bankruptcy at some point. During this process, it is important to review the retirement plans associated with the business to ensure new and existing owners/employees are taken care of.
Automatic enrollment can offer a range of benefits for both employees and employers. By increasing participation rates, improving retirement savings, and simplifying the decision-making process, automatic enrollment can help workers prepare for their future and achieve their long-term financial goals.
A Safe Harbor Plan is a retirement savings plan designed to allow small business owners and all eligible employees the ability to maximize their contributions to a 401(k) plan. This type of plan is particularly useful for small businesses that may have trouble passing the annual nondiscrimination testing required by the IRS for regular 401(k) plans.
The Cannabis Industry is constantly evolving with over 417,493 full-time jobs supported by legal Cannabis in the U.S! In a growing job market, attracting and retaining employees can be difficult. Retirement plans are one of the most sought-after benefits employees look for when finding a new job.
Starting a new retirement plan is less expensive than you think. By taking advantage of tax credits and deductions, you can offer employees a retirement plan while enjoying significant cost savings.
Many business owners are unaware that once they establish a ROBS plan, they assume certain legal responsibilities related to compliance regulations. Learn about common mistakes that ROBS entrepreneurs make with tips on how to correct any current errors and avoid potential future issues.
