Understanding Virginia's State Mandates for Retirement Plans: Options and Compliance
Help clients understand Virginia's state-mandated retirement program and educate them on the key features of the program as well as available alternatives.
Key Points
- Navigating Virginia's Mandates: Equip clients with knowledge about Virginia's retirement program requirements, highlighting the necessity for employers with 25 or more employees to offer a retirement plan.
- RetirePath Virginia Overview: Offer detailed information on the RetirePath Virginia program, emphasizing its automatic enrollment and minimal administrative responsibilities for employers.
- Exploring Retirement Alternatives: Guide clients through alternative retirement plans like 401(k) and PEPs, focusing on their flexibility, higher contribution limits, and potential tax benefits for both employers and employees.