LEADING RETIREMENT SOLUTIONS EMPOWERS CANNABIS OPERATORS WITH STRESS-FREE COMPLIANCE

With flexible, integrated, and cost-effective retirement plan services for the cannabis industry, Leading Retirement Solutions dramatically reduces the complexity of cannabis retirement plan administration, compliance reporting, and payroll contribution management for cannabis operators.

SEATTLE, July 22, 2025 /PRNewswire/ -- Offering a 401(k) or other retirement plan is an essential employee benefit, but it can be especially challenging for cannabis operators due to complex and evolving regulations. The administrative burden alone can be overwhelming, and the costs associated with maintaining compliance can significantly impact a cannabis company's profitability.

Even worse, many cannabis retirement plans currently offered are unreliable. Key service providers such as custodians and investment fund families are federally regulated and typically refuse to work with state-legal cannabis companies because of cannabis' classification as a Schedule I substance. As a result, cannabis operators may find their retirement plans suddenly terminated by vendors, often with little or no warning, leaving both employers and employees in a difficult position.

"A few years back, we had about thirty cannabis operator clients who were suddenly ejected from their 401(k) vendor and were in an emergency situation because of it," said Jon McCulloch, Director of Operations Support at Paragon, a major cannabis payroll provider. "We knew we needed to find a 401(k) vendor that is going to offer stability to our clients."

At this point, Paragon discovered Leading Retirement Solutions (LRS), the first firm to offer compliant, reliable, and cost-effective retirement benefits to the cannabis industry that provides for streamlined retirement plan services and costs for cannabis operators. Drawing on their deep knowledge of the cannabis industry, LRS leverages innovative plan design and access to diverse, cannabis-approved investment options to offer cannabis clients flexible retirement plan services tailored to their company's unique needs.

"The biggest administrative headache for me with our last 401(k) vendor was dealing with the annual IRS audits of our plan, which was necessary for compliance," said Hannah Conlisk, Human Resources Operations Specialist for cannabis operator Native Roots. "LRS presented us with an affordable plan option in which they handle the audit, and that won us over immediately."

In addition, Leading Retirement Solutions has spent years building a robust network of trusted partners, including CPAs, attorneys, HR firms, and payroll providers, who are equally committed to supporting and serving the cannabis industry. LRS activates this coalition of trusted, cannabis-friendly service providers to further ensure compliance, while managing costs and bureaucracy for their clients. 

For instance, through partnership with LRS, Paragon now offers seamless payroll integration across all retirement plans managed by LRS. This integration ensures that critical data, such as employee contribution changes, is automatically synchronized between Paragon's payroll system and the LRS recordkeeping platform. The result is streamlined payroll administration and reduced risk for common payroll and retirement plan errors.

"When payroll isn't integrated, there are often errors and compliance issues, which can lead to fines, or at worst, put a cannabis operator's license in jeopardy. And if your license is in jeopardy, you can't collect a nickel," said Brian McVicker, Vice President of Revenue at Paragon. "Our partnership reduces these compliance risks substantially for operators."

For close to a decade, LRS has been committed to reducing such operational burdens and delivering long-term value to cannabis employers and their teams. With reliable retirement plan solutions, competitive pricing, and a robust network of trusted partners that address industry-specific challenges, LRS continues to lead the way in creating compliant, flexible retirement plan solutions that support the growth and stability of cannabis businesses nationwide.

More About Leading Retirement Solutions: Leading Retirement Solutions is an industry leader in innovative retirement plan solutions for businesses. LRS focuses on improving retirement strategies by offering custom-fit solutions and nontraditional investment opportunities. Their services include plan design, plan administration, recordkeeping, consulting, and more. Leading Retirement Solutions prides itself on helping fellow women-owned businesses, not-for-profit organizations, cannabis, and small businesses, through tax sheltering and employee benefits.

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SOURCE Leading Retirement Solutions