Business Resources for Cannabis Companies
Legality of Cannabis Retirement and Health Plans
Key Takeaways Key Takeaways Section Key Points Introduction: The Growing Need for Cannabis 401(k) Plans Cannabis industry growth necessitates competitive
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Introduction The cannabis industry is experiencing unprecedented growth and success, yet one area remains largely unexplored: retirement benefits. While companies
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Cannabis companies in Illinois are not exempt from providing either Secure Choice or a 401(k) plan to their employees.
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The cannabis industry is in dire need of proper guidance as to how to appropriately provide 401k and other employee benefits to its employees.
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The ancillary cannabis market operates behind the scenes. It is made up of companies involved with the packaging of cannabis products, the provision of cash streaming to up-and-coming cannabis businesses, and the development of hydroponic technologies for the growers plus legal services and benefits providers.
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How cannabis 401(k) plans are legal
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The Internal Revenue Code expressly permits cannabis employees to participate in a retirement plan just like other, non-cannabis employees.
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Here’s where we stand re: Cannabis and the 401(k) plans that can provide competitive compensation and retirement savings ability to the 300,000+ employees in the fastest-growing industry in the United States.
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