Employer Update: CalSavers – State Mandated Retirement Savings Program
Here is a quick timeline for the CalSavers retirement program sign-up deadline – for larger employers this requirement begins in June.
Employers with 5 or more employees who do not offer an employer-sponsored retirement plan must enroll by:
More than 100 employees = June 30, 2020
50 to 99 employees = June 30, 2021
5 to 49 employees = June 30, 2022
Also, employers who already have or will establish their own retirement plan must certify their exemption on the CalSavers website.