About the CalSavers retirement savings program mandate
The state of California requires that all businesses with 5 or more employees provide access to a retirement savings plan. As a business owner, you can choose to offer the state-sponsored plan, or a different plan like the Finhabits 401k, which offers additional benefits for both you and your employees. Deadline to comply passed. Act now and avoid financial penalties
Questions? Reach out to our team at 1-800-935-7214
A smart solution that you & your employees can trust
Easy-to-manage plans
Plan administration 3(16), record keeping, fiduciary oversight, and investment management 3(38) are included in our plans.
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Safe harbor status
Designed to automatically pass most nondiscrimination tests required by the IRS.
Matching options
Finhabits has different 401k match options to help incentivize your employees to contribute to their plan.
Smart investments
Help your employees save efficiently for retirement with low-cost target date funds.
Build financial habits
Our platform helps your employees gain control of their finances so they can thrive at work.
Bilingual mobile app
Employees can download our bilingual app to access educational tools and monitor their account.
Finhabits is a B-certified corporation that has served over 80 thousand clients in the United States since 2015.
Plans costs & tax credits
When selecting a Finhabits 401k plan, eligible businesses could receive up to $4,500 in fiscal credits for the initial three years of providing a plan.*
*Employee cost per month without tax credits is $167. Employer fees will be billed quarterly. These fees do not include the underlying fees of 0.07% of the investment funds, which are the Transamerica LifeGoal Fund with BlackRock Retirement Opportunity. You may be charged additional fees for ad-hoc tasks.
How to get started?
1
Sign up online
Enter basic information about your business
2
Select a plan
Pick between the Saver or Saver Plus plans
3
We do the rest!
Call us with any questions
Questions? Reach out to our team at 1-800-935-7214
Compare Finhabits 401k plans and CalSavers IRAs
The Finhabits 401k plans were designed with most small and medium-sized businesses in mind, including those in states like California that have been mandated to offer retirement benefits. While the CA state-sponsored CalSaver uses Roth IRAs, only employees earning less than the IRS maximum can participate. A Finhabits 401k plan can be a better solution for you and your employees.
Maximum employee contribution
Catch up contribution ages 50 and older
Defined contribution maximum limit
Finhabits
401k
$20,500
$6,500
$61,000 ($67,500 edades 50+)
CalSavers
IRA
$6,000
$1,000
Not applicable
An alternative that your business and employees can trust
Easy-to-use 401k plans
Our plans are accessible for any business, regardless of size. Finhabits helps your employees to learn smart financial habits while they save for retirement.
Save up to 3 times more
401k plans have higher contribution limits than IRAs like the ones offered by CalSavers.
Potential tax credits for your business
There are federal tax credits in the first three years that could offset plan costs.
Frequently asked questions
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This material has been provided for informational purposes only, and is not intended to provide investment, legal or tax advice. Check with your tax advisor to determine what tax credits and tax deductions may be available for your business. Finhabits does not provide tax, legal or accounting advice. Investment advisory services offered through Finhabits Advisors LLC, an SEC registered investment adviser. Registration does not imply a certain level of skill or training. Past performance is no guarantee of future returns. There are risks involved with investing. Insurance services offered through Finhabits Insurance Services LLC, a licensed producer in certain states. Finhabits Advisors LLC is not a fiduciary to insurance products or services.