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CalSavers Deadline for 5+ Employers
Date: June 30, 2022

The CalSavers Alternative: A Ubiquity Small Business 401(k)

Choose the better path to savings with Ubiquity 401(k), a retirement solution that allows flexibility in set-up and investments, integrates with your payroll, offers higher savings for employees, and includes a tax credit for you.

Have 5 or more employees?

Save more, avoid penalties, and get a business tax credit by setting up a Ubiquity 401(k) plan before 6/30/22. Call 866.634.6116 or schedule a free consultation with a retirement specialist.

How many employees do you have?

I am a sole proprietor

Los Angeles California

Do you have a retirement plan?

55 million American workers—more than 40% of full-time private-sector employees—don’t have access to a workplace retirement savings plan. As very few employers offer pensions and Social Security is drying up, with funds expected to be depleted as soon as 2035, the responsibility for saving falls more on the individual than ever before. But that can all change this year. 

Since 2012, at least 45 states have implemented or considered establishing state-facilitated retirement savings programs. Oregon, Illinois, and California are leading the charge. 

Over the course of a 3-year rollout based on employer size, all California businesses with over 5 employees will be mandated to choose from the one-size-fits-all, state-provided, automatic Individual Retirement Account (IRA) or sign up for an eligible retirement plan with a private provider. 

 

Employer Size

Plan Setup Deadline

More than 100 employees

June 30, 2020

More than 50 employees

June 30, 2021

5 or more employees

June 30, 2022

We’ve got the best alternative. Ubiquity Retirement + Savings™ provides affordable and robust 401(k) plans customized to meet your needs.

What are my retirement plan options?

CalSavers, the state-sponsored plan, offers a basic Roth IRA to help employees build their retirement savings. But with low contribution limits, limited investments, and limited tax advantages, is it the best solution for your team’s financial future?

At Ubiquity Retirement + Savings, we’ve been helping small businesses and their employees grow their nest eggs for over two decades with affordable, customized 401(k) solutions. While we believe the state’s program can be a valuable tool to help end the looming retirement crisis in California, a 401(k) might be a better alternative for your small business and your employees’ futures.

There are important differences between the state-sponsored plan and a Ubiquity 401(k). A 401(k) solution provides employers with the opportunity to maximize their contributions and tax savings while helping their employees save for the future. With a 401(k) plan you can contribute 3 times more than with an IRA, and there are other important customization options that a 401(k) plan enables. This chart streamlines those differences:

Typical State IRA

Ubiquity 401(k)

Maximum employee annual contribution amount

$6,000

$20,500¹

Additional annual employer contribution limit

Not offered

Yes, up to an additional $40,500¹

Flat fees that don’t increase with your account balance

No, asset-based fees

Yes, flat fees

Tax credit that can total up to $5,500 per year – or $16,500 for the first three years of the new 401(k) plan2

No

Yes

Flexible auto-enrollment and vesting schedules

No

Yes

Investment guidance based on individual risk tolerance

No

Yes

Employee enrollment meetings and education

No

Yes

Auto-enrollment and escalation

Required at mandated levels

Optional and flexible

Customizable investment lineups

No

Yes

1.  This limit is subject to cost-of-living increases for later years (for prior years, refer to this cost-of–living adjustment table.)
2. Available to eligible employers who have less than 100 employees who received at least $5,000 in compensation in the previous year, had at least one participant who was a non-highly compensated employee, and in the last 3-years did not contribute to a benefit plan for your employees through a plan sponsored by you or a member of a controlled group that includes you.

How much will you pay for 401(k)? Get an instant quote.

How many employees do you have?
I am a sole proprietor
(just me/or my business partner/spouse)

Small Business Retirement with Ubiquity Retirement + Savings

So why not opt for the smarter option? If you’re looking for the maximum savings potential and tax benefit, Ubiquity provides flat-fee and low-cost retirement plans, all delivered online to you and your employee. That means no hidden fees or AUM charges in the fine print. Since 1999 we have been singular in our focus on the un-served small businesses. We have helped hundreds of thousands of employees save towards their future.

401(k) plans offer a great tax saving benefit. 

But there is a misperception that setting up a retirement plan can be challenging, and oftentimes small businesses don’t have the time or the budget. That’s why Ubiquity created this Definitive Guide to Small Business 401(k), which includes everything you need to know about saving money for your business, your future, and without confusing language or too much financial jargon.

With this small business 401(k) guide, you’ll get the details how to:

  • Maximize your contributions
  • Provide a valuable benefit to your workforce and retain talent
  • Deduct your contributions as a business expense
Download the guide now

Choose a better path to savings

Want to know more about California’s state-mandated retirement versus Ubiquity? We’ve got experts that have your back. Call us today at 855.912.6904 or email us at sales@myubiquity.com

© 2022 Ubiquity Retirement + Savings
Privacy Policy
Do not sell my info
44 Montgomery Street, Suite 3060
San Francisco, CA 94104
Support: 855.401.4357

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© 2022 Ubiquity Retirement + Savings
Privacy Policy
Do not sell my info
44 Montgomery Street, Suite 3060
San Francisco, CA 94104
Support: 855.401.4357

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