California Cannabis Company
This franchise cannabis company has several businesses with one central HR team. They have been trying to find a way to comply with the CA State mandate, but haven’t been able to find a 401k provider at a reasonable cost.
200
Full time W-2 employees
$5,040
Dollars saved annually
1.5
Hours to implement
30
Minutes of admin time, monthly
Challenge
They needed to comply with the California retirement mandate, but the only provider that would work with them was offering an extremely expensive bespoke 401(k) plan. This would not only cost orders of magnitude more than Icon, it would require a very complicated integration with a long roll out period.
Result
They found an affordable, flexible plan that complies with the California mandate.
We couldn’t find a retirement solution that would work for us, until we found Icon."
– VP of HR
Location
Humboldt, CA
Industry
Franchise Cannabis Company
Years in Business
4
The Icon Difference.
We’ve automated plan administration and removed the complexity, fiduciary risks, and federal filing requirements of traditional plans, making Icon the easiest, most affordable plan on the market1.
Icon
Average Provider
Plan Admin Costs
$6,000
$11,040
Employer Match
$0
$390,000
Fiduciary Insurance
$0
$2,500
Annual Audit
$0
$10,000
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