California companies looking to create a 401k plan for their employees now have options that include direct exposure to Bitcoin
NEWPORT BEACH, CALIFORNIA, USA, June 29, 2022 /EINPresswire.com/ — By June 30, 2022, all California employers with five or more employees must comply and have a retirement program in place or face a penalty. There are two basic options and one unique option. An employer can ask their payroll provider to implement a vanilla plan or register with CalSavers. The 3rd option is a retirement plan that uses diversified funds and incorporates Bitcoin.
SUEDE is an industry leading crypto advisor that offers 401k plans on a before and after tax basis. Our plans give participants exposure to Bitcoin, purchased on exchange through Gemini. DAIM offers 4 portfolios based on a traditional 60/40 stock/bond allocation. Participants can invest in a traditional portfolio or choose an option with a 1%, 5% or 10% allocation to pure Bitcoin.
Click on the image to view the portfolio factsheet with a 10% allocation to Bitcoin.
Contact DAIM at hq@DAIM.io or 888-600-4522 to learn more. www.daim.io/corporations
California law requires that employers doing business in California that do not offer a 401(k) plan must enroll in the CalSavers retirement program (the “CalSavers Program” or “Program”) and provide census information. employees so that CalSavers automatically enroll eligible employees in a retirement savings program. The deadline is June 30. As an employer, you can face a fine of $250 per employee if the non-compliance extends beyond 90 days and an additional fine of $500 per employee if the non-compliance extends beyond 90 days. beyond 180 days.
CalSavers contributions are automatically deducted from your salary on an after-tax basis. The CalSavers plan is a Roth IRA and is subject to income limits. If your AGI is above the threshold, you may not qualify.