Understanding Colorado's State Mandates for Retirement Plans: Options and Compliance
Help clients understand Colorado's retirement state mandates and explore alternative solutions that may fit their needs.
Key Points
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Understand State Mandates: Inform clients about Colorado's retirement program requirements, including the need for employers with five or more employees to offer a retirement plan.
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Colorado SecureSavings: Explain the features of the Colorado SecureSavings program, such as automatic enrollment, contribution rates, and the minimal administrative responsibilities for employers.
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Explore Alternatives: Highlight the benefits of alternative plan options, like 401(k) and PEPs, which offer greater flexibility, higher contribution limits, and potential tax advantages for both employers and employees.