Case Study

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

$390,00

Fiduciary Insurance

$0

$2,500

Annual Audit

$0

$10,000

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