Secure Our Services Before the End of The Year!
In order to put a company sponsored retirement plan in place for the 2021 year and offer open enrollment to employees on January 1st, business owners should start the process in advance! If you or your clients are considering implementing a retirement plan for 2021, make sure to secure our services by December 1st.
Research has shown that employee benefits play a major role in attracting and retaining talent, and many employees expect new benefits in the new year! Offering benefits to your employee demonstrates that you are invested in their overall well-being and that you care about their financial futures. How do you expect to attract experience individuals without a retirement plan offering? With the Leading Cannabis 401(k)® plan and the Leading Cannabis Cash Balance plan, cannabis company owners can have the peace of mind that their money, and that of their employees, is invested safely and timely.
Leading Retirement Solutions has all the resources you need and deserve!
Employee Classification Guide:
Many companies misclassify their employees as contractors, when they should be employees, or misclassify their employees as salaried, when they should be hourly. Our recent article on misclassifying employees in your cannabis business explores how to properly classify your employees and run your business with reduced risk of lawsuits. Do you know what the difference between exempt and non-exempt employees is? How about the difference between an employee and a contractor? Or how about the what the potential impacts of misclassification are? For the answers to all these and more check out our recent article, courtesy of our friends at LEAPROS Workforce Solutions.
Retirement Plan Deadlines:
More states are adopting mandatory retirement savings requirements for companies that employ W-2 employees. We have received a growing number of calls from cannabis companies asking if the state mandated retirement plan requirement applies to them. The answer is YES! Generally, companies operating in the cannabis industry are not exempt from state mandated retirement savings plan requirements.
If you received any of our last three newsletters on employee benefits for cannabis, you already know there are upcoming deadlines related to retirement plans for cannabis companies. LRS is happy to announce that we’ve published a new article detailing all the relevant deadlines we’ve come across so far, with plans to continuously update said article as soon as we find more. Be sure to bookmark our Retirement Plan Deadlines for Cannabis Companies article and check back for more updates!
Cannabis Resources Page:
Looking for answers to more cannabis retirement planning questions? We have plenty! Check out our Leading Cannabis Blog Posts page for a complete list of our cannabis-related retirement planning content. If you’re still have questions we haven’t addressed, feel from to reach out to our team of legal, financial, and retirement industry experts! Or, if you’re looking to implement a retirement plan at your cannabis company, the Leading Cannabis 401(k)® Plan was developed specifically for organizations operating in the cannabis space. This revolutionary employee benefits solution is entirely above board and in complete compliance with all government regulations.
Speak with an LRS representative today to find out how cannabis companies will profit from adding a retirement plan to their employee benefits offering.
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