Understanding Minnesota's State Mandates for Retirement Plans: Options and Compliance
Help your clients in Minnesota navigate the state's mandated retirement program and discover alternative solutions that not only satisfy legal requirements but also align with their business goals.
Key Points
- State-Mandated Retirement Options: Educate clients in Minnesota about their options to satisfy retirement state mandates.
- Compliance Requirements: Ensure clients understand the importance of complying and meeting implementation deadlines to avoid financial penalties.
- Benefits of Each Option: Highlight the advantages of each qualified plan option, including the limited administrative responsibilities of the state-run option, and the flexibility and tax benefits of 401(k) and PEP.