California Mandates Companies Have A Retirement Plan: There Is A Plan With Bitcoin
The long-term effect of a 10% allocation to BTC within a well diversified portfolio
Californian companies looking to create a 401k plan for their employees now have options that include direct exposure to Bitcoin
Bitcoin is now an option in 401k plans”
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 otherwise face a penalty. There are two basic options and one unique option. An employer can have their payroll provider implement a vanilla plan or register with CalSavers. The 3rd option is a retirement plan that uses diversified funds and incorporates Bitcoin.— DAIM
DAIM is an industry leading crypto advisor that offers 401k plans on a pre and post tax basis. Our plans give participants exposure to Bitcoin, bought 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 that has 1%, 5%, or 10% allocation to pure Bitcoin.
Click on the image to see the factsheet for the portfolio 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 register under the CalSavers Retirement Program (the “CalSavers Program” or “Program”) and provide employee census information in order for CalSavers to automatically enroll eligible employees in a retirement savings program. The deadline is June 30th. As an employer you may face a $250 fine per employee if noncompliance extends beyond 90 days and an additional $500 fine per employee if noncompliance extends beyond 180 days.
CalSavers contributions are made automatically from your paycheck on an after-tax basis. The CalSavers Plan is a Roth IRA and subject to income limitations. If your AGI is above the threshold you may not qualify.
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