Changes In California-Based Retirement Plans
A 3-Year Phased Rollout Staggers Registration
Deadlines Based on Employer Size:
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.