The reason why The 401(k) Plan Company is here in the CalSavers ERA- what makes this timely and needed right now, is that we are THE alternative to state mandated plans. We afford employers and employees like you true control:
Don’t lose control. With Calsavers and other states penalizing and forcing binary choices of 401(k) plans but giving little power or information to employers or employees to choose plans Starting in CA, and many states about to adopt their own version, you get a poor, crowded cattle car one size fits all, wait in line program no matter what your circumstances at CalSavers.
The part that will harm you in the future is when employees who are automatically put in a Roth IRA but do not qualify for that IRA are told they did the wrong thing by their accountant? They will be mad at you, and rightfully so.
UNLESS employers and employees are proactive and choose a 401(k) plan to be exempted from CalSavers.
We are “THE” company that can help you, and the ONLY way for you to enable ALL your employees including highly comp’d to participate in the ROTH.
The State Plan will not do that. We will even refer you to a helpful advisor, especially helpful when you have employees in multiple states or future plans to potentially locate in multiple states. You will not want to be in California’s plan then, or now at all.
We’ve completely simplified the entire process: 2-15 minutes tops to get started depending on if you need consulting, we are standing by to help you. This will shape the future of your company and its employees.
Set both you and your employees on a path to success you are aligned in this. Choose success and be able to keep control at your company rather than give it to the state.
Do not get a 401(k) from the DMV. Get it here instead so we can keep you happy.
Buy here, the first month admin free so you can get started, and future months offset by refundable Federal tax credits to benefit your business. This is too major a business decision to leave up to the state each month. Nothing good has ever come from the EDD or the DMV when it comes to supporting your business. Those are revenue centers for the State Treasury and as soon as you let them start, you will lose control of your money and your business, and your employees will be poorly treated because they will be overwhelmed with service issues and unable to respond to high volume at tax time.