Changes In California-Based Retirement Plans

State law requires that California employers – who don’t already offer an employer-sponsored retirement plan and who have five or more CA-based employees (at least one of whom is age eighteen) either sponsor a retirement plan or participate in CalSavers.


 A 3-Year Phased Rollout Staggers Registration

Deadlines Based on Employer Size:

1.  More than 100 employees – 9-30-20 Deadline passed … Register Today
2.  More than 50 employees – June 30, 2021
3.  5 or more employees – June 30, 2022


Qualified Retirement Plans (meaning you are exempt) Include:

  • 403(a) – Qualified Annuity Plan or 403(b) Tax-Sheltered Annuity Plan
  • 408(k) – Simplified Employee Pension (SEP) plans
  • 408(p) – Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRA Plan
  • 401(a) – Qualified Plan (including profit-sharing plans and defined benefit plans)
  • 401(k) – Plans (including multiple employer plans or pooled employer plans)
  • Payroll deduction IRAs with automatic enrollment

This is a mandatory state program unless You are exempt!

Help Your Employees Save for Retirement

CalSavers Retirement Savings Program was designed to give employers an easy way to help their employees save for retirement, with no employer fees, no fiduciary responsibility, and minimal ongoing responsibilities.

Employers with at least five employees who don’t already offer a workplace retirement plan can register for CalSavers today. Employers must complete registration before their required deadline.