Leverage California’s New Mandatory Employer Retirement Savings Program to Work for You.

How Employers Can “Win” by Leveraging California’s New Mandatory Employer Retirement Savings Program.

Most small businesses would like to be able to provide retirement options to their employees to help with recruiting and provide long-term security options for their employees. Unfortunately, most employers, cannot afford to and lack the ability to offer retirement programs.

CalSavers is a portable state-run retirement program that applies to all small businesses in California. Beginning in late 2019, California began to roll out a 3-year phase-in mandatory retirement program offering with tiers based on the number of employees within an organization.

The good news for employers is that, with CalSavers, the associated burdens of running and managing an employer-sponsored retirement plans is placed squarely on the state of California. Employers will not be required to contribute funds, manage funds, or have the responsibility of providing financial advice. They will simply be required to use their existing payroll system to send voluntary employee contributions to the CalSavers fund each month.

You have to do it, so do it right.

Learn more about a low-cost, straightforward 401(k) plan that exceeds state requirements and beats state deadlines:

• The self-employed will be able to opt-in to the program in late 2019.
• Employers with more than 100 employees need to participate in a retirement program or CalSavers by July 1, 2020.
• Employers with more than 50 employees will need to comply by July 1, 2021.
• Employers with more than five employees will need to comply by July 1, 2022.

Get ahead of the curve.

Contact us today and let’s discuss your options, timeline, and state requirements together so that you can come out ahead with CalSavers, California’s new mandatory employer retirement savings program.

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