California launched CalSavers to give employers an easy way to comply with the mandate and help their employees save for retirement.
State law now requires all businesses with five or more employees to facilitate CalSavers if they do not sponsor a retirement plan. Deadlines for employers to comply vary based on the size of business. The deadline for employers with more than 50 employees is June 30, 2021 and June 30, 2022 for employers with five or more employees. Eligible employers with 50 or more employees who have not yet registered, should do so as soon as possible to avoid penalties. Smaller employers may register early without penalty. Visit CalSavers.com for more information on how to register.
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