Make the Most of Multi-Employer 401k Plan

Try our newly launched, fully integrated payroll and administration service.

What is a MEP 401k plan

Convenient comprehensive solutions

Get an MEP 401k upgrade

As a provider of premier cannabis industry business solutions and an official 401k plan sponsor, we have a responsibility to offer our clients a unique service that combines payroll with 401k plan administration. Greenleaf Business Solutions will handle plan implementation, overseeing, enrollment, as well as any related aspects. Taking part in a multi-employer 401k plan can help you streamline your business processes and workflow. Additionally, the State of California requires cannabis business owners to offer a dependable long-term retirement solution to their employees and we can help you meet that requirement effortlessly.

Simplify data collection

Collecting data necessary for compliance, including information on termination dates, salaries, and more.

Reduce workload

Minimized chances of errors and duplicative data thanks to our streamlined electronic data transfer.

Maintain compliance

Ensuring legal and fiduciary compliance, protection against liability, and minimum risk of error effortlessly.

Discover full integration

Offering a fully integrated and seamless two-in-one solution, from the hiring process to retirement.

Improve efficiency

Make your business more efficient with our prompt service to save time and cut costs in the long term.

Build lasting professional relationships

Attract quality employees

Building a steady stream of revenue requires you to build a strong team committed to teamwork. It is only among quality hires that you can find team players who can live up to these expectations. And quality hires want quality benefits. Forward-thinking businesses need forward-thinking employees. At Greenleaf Business Solutions, we bring you the ability to offer prospective or current employees a tax-advantaged retirement savings plan and proper and timely transmission of 401k contributions. This can help you stand out and attract quality talent and retain valuable employees all the way to retirement.

Can I have a 401k with multiple employers

Leverage valuable resources at your disposal

Reduce administrative burden & ensure compliance

Running a small business is a challenging endeavor. It gets even more difficult when you are dealing with the requirements of the increasingly demanding cannabis industry.. We can help you organize and manage your time and workflow better with a smooth time-keeping and scheduling system within our multi-employer 401k plan which also helps you avoid associated risks and cut costs. Allow us to make it possible for you to meet compliance requirements through our seamless electronic data transfer system which eliminates all the daunting, time-consuming tasks normally involved in the process.

Specialized Marijuana Business Payroll Processing

Detail-oriented design, smooth delivery

Tailored solutions for the cannabis industry

We can recommend the optimal MEP 401k plan for your business, enabling you and your employees to take advantage of its key features. This is a transparent Open Plan which relieves much of the burden and day-to-day hassle you face as a cannabis business owner. This plan gives you a stable long-term solution for processing payroll and administrative affairs, as well as additional benefits such as increased employee enrollment, multiple options for profit-sharing contribution, and more. It also gives your employees an employer-sponsored defined-contribution pension account, allowing pretax contributions to be made from employees’ ordinary wages and salary.

GET IN TOUCH  Choose your plan

What our MEP 401k service entails

Frequently Asked Questions

What is an MEP 401k plan?

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An MEP 401k stands for a Multi-Employer Plan. This is a plan that is designed to encourage businesses to offer a retirement benefit without having to carry the burden of all the administrative tasks that come with offering a retirement benefit. This plan is the most common employer-sponsored defined contribution plan nationwide.

At Greenleaf Business Solutions, we offer 2 different options – the Closed and the Open plan. While the Closed Plan brings straightforward solutions, the Open Plan is flexible and fully customizable depending on your business needs and goals. We can perform an initial analysis and then offer the most appropriate solution for your business.

Can an employer offer multiple 401k plans?

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With our various MEP offerings, our clients can have the freedom to create a custom structure for their retirement. They can also choose to offer our Closed MEP which allows companies to not be overwhelmed with customizing their retirement plan. We have already gone through that for them, having vetted some of the best funds for their employees’ various retirement goals.

What are the advantages of participating in an MEP?

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Taking part in an MEP has numerous advantages for all parties involved. From the employers’ perspective, the number one perk may be that it takes the administrative and compliance burden that a company would have to handle so that a retirement benefit can be offered. Since Greenleaf is the plan sponsor, we handle all of the compliance, auditing, filing, and 5500 forms for our participating clients.

What is the requirement to establish a Multiple Employer Plan?

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There is no requirement. If you have just one employee interested in a retirement benefit, you as the employer are eligible to offer this to them. We can walk you through the process to help you understand why our MEP 401k service can benefit not only your employees but also your business in the long run.

What is the difference between an MEP and a PEP?

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A MEP is a Multi-Employer Plan while a PEP is a Pooled Employer Plan. A multiple employer plan allows each company to be separate whereas a PEP forces each participating company into one. MEP also allows a collection of individual companies to have the freedom of choosing various fund lineups. A PEP is a single plan for all companies so flexibility in offerings can be limited.

Who can sponsor a multiple employer plan?

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Greenleaf Business Solutions is the sponsor to these various MEP 401k offerings. This is the most attractive feature of this integrated solution: we do not have our clients take on administrative burdens. Instead, we organize and run each MAP on their behalf, safeguarding them against any potential issues and eventualities that may arise.

How can I find out more about MEP 401k plans?

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Do not hesitate to reach out to us so you can learn more about our offer and make the most of this unique opportunity. 

We have developed cost-effective 401k plans with 3(16), 3(21) and 3(38) protections which enable employees to make contribution changes that feed directly into their payroll. Whether you opt for the Closed (Fixed) or the more flexible Open (Optional) plan which allows full customization, our service is dependable, consistent, and delivered on time.

Let us help you relieve your administrative burden and streamline your process so you can focus on your essential business functions. Our team has a strong track record in handling payroll for cannabis businesses,  as well as delivering efficient cannabis industry banking and providing integrated cannabis HR consulting services. 

Contact us now to find out more compelling reasons to take advantage of our experience in the financial industry and take part in an MEP 401k plan!

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