In today’s labor market, the 401(k) is no longer an optional benefit. It’s an essential ingredient for your cannabis businesses’ success.
Attract & retain top talent, and create a happier, more stable workforce by offering your employees a 401k plan. Happier employees stick with your business longer, ensuring you have the depth for your cannabis business to continue to scale.
Our plan administration fees are among the lowest in the industry, allowing more of your money to stay where it’s needed; in running and growing your business.
Weighing your options between your own independent 401(k) plan or participation in a Multiple Employer Plan (MEP)? Consider the $6,000 - $10,000 annual audit cost savings (an IRS requirement for businesses of 100+) afforded you by adopting an MEP plan sponsored by AdaptiveHR powered by Resourcing Edge. There is no individual audit requirement for your company inside an MEP. Also outsourcing the administration and Fiduciary responsibility to the MEP sponsor saves time and money.
Future Proof Advantages for You!
One of the biggest pain points for any business owner is surrendering your hard-earned money over in the form of taxes; which seem to be continually increasing.
A Safe Harbor plan, in tandem with a profit-sharing arrangement, allows a business owner to put away up to $53,000 in pre-tax 401(k) contributions. What’s more, those funds are exempt from litigation, ensuring a solid financial foundation for you and your family no matter what perils business ownership may throw your way.
In many cases, a 401(k) that’s well-funded over the course of decades can end up having a higher valuation than your business itself when the time comes for you to hang up your hat.
Client cannabis companies receive:
• An affordable retirement plan.
• Flexible plan features, including safe harbor and profit sharing.
• Customizable 401k plan design options, involving eligibility options, company match, vesting schedules, and more.
• Quarterly Statements.
• Access to the sponsor plan and participant sites allowing you and your employees to monitor and control your investments