THE SMART ALTERNATIVE TO CALSAVERS
INTRODUCING VALUE POINT ASSOCIATES
YOU HAVE OTHER RETIREMENT PLAN OPTIONS FOR SATISFYING THE STATE MANDATE
In an effort to help today’s workforce save for a financially-secure future, the state of California is requiring that all employers with five or more employees offer some type of retirement plan for their workers, based on the following timeline:
CalSavers—the state-sponsored plan—offers a very basic Roth IRA for building your retirement savings. But with contribution limits of $6,000 per year, can CalSavers really help your employees achieve a secure financial future—or does it just “check the box”?
We applaud California for leading the way on this critical initiative and helping Californians better prepare for financial security in retirement. But CalSavers is NOT the only retirement plan that satisfies the California mandate.
401(k) VS CALSAVERS
Why choose a VPA 401(k) plan over CalSavers? The VPA plan doesn’t just meet the requirements of the state mandate. It enables you and your employees to save far more toward retirement and provides the potential for higher earnings.
Unlike the CalSavers plan, contributions to a 401(k) plan are made with pretax dollars, and are deductible from your taxable income. Plus, as an employer, you’ll enjoy other tax advantages that CalSavers can’t offer.
Let’s compare the key differences...
*Certain eligibility requirements must be met.
Ask about the Cash Balance Plan with IRS pre-tax contribution limits as high as $336K.