Are you a California employer that does not have an employee retirement plan in place? If so, tune in as this information is important to you. The state of California requires that all employers allow their employees to save for retirement. And if a plan is not in place through the company, the employer must enroll in the CalSavers program. This is a retirement savings program that will allow private sector employees to save for their retirement at no cost to the employer. If you have 100 or more employees, the due date to enroll is September 30th, 2020, extended from the original June 30th, 2020 deadline. If you have 50 or more employees, your deadline is June 30th, 2021. If you have five or more, then you have until June 30th, 2022, if you have more questions regarding this program, you can find information on the California Treasurer’s website at www.treasurer.ca.gov. Hope you found this information helpful so you can remain in compliance and avoid any penalties that may occur.
CalSavers Program
