CalSaversis a retirement savings program for private sector workers whose employers do not offer a retirement plan. This program gives employers an easy way to help their employees save for retirement, with no employer fees, no fiduciary liability, and minimal employer responsibilities.
Employers with one or more employees must participate in CalSavers if they do not already have a workplace retirement plan. The following deadlines to register are based on the size of the business.
| Size of Business | Deadline |
|---|---|
| Over 100 employees | September 30, 2020(Deadline Passed) |
| Over 50 employees | June 30, 2021 (Deadline Passed) |
| 5 or more employees | June 30, 2022 (Deadline Passed) |
1 or more employees | December 31, 2025 |
Newly mandated business with five or more employees are required to register by the end of the calendar year in which they became subject to the mandate (e.g. due to employing more than five employees or because they ceased to sponsor a retirement plan).
To register, visitCalSavers.
