Dan Enriquez has been working with small business owners Human Capital management processes for 7 years. He has worked with small businesses from 1 through 1000 employees. One of the major requirements as seen comes down on small businesses over the last 4 years, is a requirement to offer a retirement benefit for employees. Small businesses have a lot of administrational work on their plate already and this requirement adds a significant amount of additional work.
Instead of viewing this requirement as state-mandated work, he has spent the last 3 years working to maximize his knowledge of the actual state sponsored plan as well as a close comparison to a company-sponsored 401k plan. Most importantly, he understands business owners need, to see the benefit of offering a plan themselves and how participating in their own plan can significantly reduce their own tax burden.
from May 13, 2021
with Daniel Enriquez
from May 13, 2021
In California, legislation was passed in 2016 to require all small businesses with 5 or more employees to offer a retirement plan by June 30th 2022. The mandate is rolled out over a 3 year period starting with employers of 100+ employees to offer a plan as of September 30th, 2020. The state provided plan is called "Calsavers". While this state plan costs the employer nothing, the funds within the plan bear a cost and the administration of the state plan comes with significant administrative effort. This seminar will review the Calsavers deadlines and how employee count is calculated, a description of the plan, pro's and con's, then a comparison of the state plan to a traditional 401k plan with associated costs.
Dan Enriquez has a Bachelors of Science in Business Administration from Bucknell University. He has 7 Years combined experience in payroll and employer administrative experience. Recent Experience includes 3 years in Company-Sponsored Retirement Benefit Industry, 401(k)’s.