Broker Check


August 18, 2022

In California, employers who have five or more employees will be required to offer their own workplace retirement savings program in 2023 or be automatically enrolled in a state-run plan called CalSavers. It’s not too late to evaluate your options, however.

Working with a retirement plan specialist to develop a customized plan can offer more control, flexibility and tax benefits. Don’t wait until the last minute to determine whether your state plan offers the most value to you and your employees — the time is now to start the discussion.

Why Should You Offer a Plan?

State-run plans are intended to ensure most employees have access to a workplace retirement savings program, but they can have some notable shortcomings. For example, most states only offer Roth IRAs, which means contributions aren’t tax-deductible. Other drawbacks can include limitations on the amount you can contribute annually and a narrow choice of investment options.

Partnering with Carey and Hanna Tax and Wealth Planners + Avantax Retirement Plan ServicesSM can offer:

• Greater flexibility with account types and investment choices.

• Tax deductibility & potential employer tax credits.

• Higher contribution limits (typical 401(k) plans allow up to $20,500 annually for individuals; $27,000 for those 50 and older).

• Ongoing employee education and the opportunity to work with a financial planner.

• Greater customization around plan design and features including profit sharing.

Why Partner with Carey and Hanna Tax and Wealth Planners and Avantax?

Through Avantax Retirement Plan Services we offer a turnkey solution to incorporate a retirement plan into your business. Our firm was founded with the idea that we could offer more to clients by applying a tax-focused lens to investment decisions. Since then, we’ve been offering comprehensive financial solutions that help clients make choices that yield healthier financial results.

We take our role as a fiduciary very seriously and are committed to acting exclusively in the interest of you and your employees. Our extensive oversight can help ensure a healthy plan with affordable expenses and investment options that meet participant objectives.

The Support You Need for a Worry-Free Plan

Offering an employee retirement plan can seem complex, but with the right partner, it doesn’t have to be. We take the stress out of the equation with a comprehensive service offering just right for you. Let us handle the details while you focus on your business.

• We offer dedicated, personalized support you won’t typically find with state-run services.

• We monitor and regularly evaluate all aspects of your plan, from the design to participation rates to individual investment choices.

• Education is a cornerstone of our service for a healthy plan and better financial outcomes for employees.

• You can also take advantage of a complimentary review of your existing plan to ensure it is meeting your goals and objectives.

Retirement plans are an important component of employee benefits packages – helping individuals save for a financially secure future – and they also offer valuable tax savings for business owners. Give us a call, we are happy to discuss the right retirement plan for your business.