California Retirement Plans

Peppermint401k qualifies as a California state retirement option

Special Offer – 50% off our setup fee!

California Just Mandated Retirement

If you have at least five California-based employees, at least one of whom is age eighteen, your business is required to offer a retirement savings plan.

This law will go into full effect starting June 30, 2022

What is a Pooled Employer Plan?

A PEP allows organizations to pool resources with other employers to make retirement plans less expensive and easier to manage.

Peppermint manages all the administration, so you don’t have to expend your valuable resources. We also take care of filings, employee notifications, audits, and shield you from the risks and liability of offering a plan.

Bonus: Setting up a PEP may give you up to $15,000 in tax credits over 3 years

Learn more about our Pooled Employer Plan

All Options Include:

    • Profit-sharing options
    • Pre-tax and Roth investment options
    • Ability to rollover funds from other 401k accounts
    • Flexible eligibility for enrollment
    • Automatic enrollment options
    • Retirement account loans
    • Ability to withdraw funds in an emergency
    • A reduction in employer’s taxable income

Choose from 3 contribution options:

Dollar for Dollar

 

Allows the employer and participants to maximize contributions.

    • Safe Harbor Option
    • Employer matches 100% on the first 4% of deferred compensation
    • Employee keeps 100% of investment if they leave the company at any time
    • Exempt from most annual compliance testing 
    • Optimizes your highly compensated employees’ personal retirement

Fixed 3%

 

Assures that all employees receive retirement benefits.

    • Safe Harbor Option
    • Employers put in 3% of employee’s compensation, even if the employee does not contribute
    • Employee keeps 100% of investment if they leave the company at any time
    • Exempt from most annual compliance testing 
    • Optimizes your highly compensated employees’ personal retirement 

Discretionary

 

Gives the employer the ability to adjust contributions as business needs change.

    • Non-Safe Harbor Option
    • Employer has more flexibility and can contribute as little or as much as they would like
    • Employer may withhold a percentage of the employee’s earnings based on time of service at departure
    • This plan requires testing and evaluation which cost an additional $1000 annually
    • Employer directed

Not sure which plan is right for you? CLICK HERE to access our guide.

Special Offer – 50% off the setup fee!

Check out our plan guide and contact us to learn more about peppermint plans