Once and For All: IRC and ERISA Say Cannabis 401k Plans Can Exist

by Newsfeed

­­I write to clarify and educate about the legal authority regarding how and why cannabis 401k plans are legitimate.

There continue to be doubts about how to coordinate the cannabis industry, 401k plans, the Employee Retirement Income Security Act (ERISA), and the Internal Revenue Code and its oft-cited 280E hammer.

Debate over cannabis 401k plans continues

In late May, 401k Specialist published “Cannabis Organizations Can Legally Offer Retirement Benefits,” a post by Kirsten Curry, Esq., president of Washington-based third party administrator and record keeper Leading Retirement Solutions.

In it, Curry cited what I have confirmed repeatedly: The Internal Revenue Code expressly permits cannabis employees to participate in a 401k plan just like other, non-cannabis employees.

Jewell Lim Esposito, Esq.

Last week,…

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