CalSavers is a workplace retirement savings program for private-sector workers whose employers do not provide them with a retirement plan. The CalSavers plan is voluntary for employees, and there are no administrative costs to employers. Although CalSavers is intended to have little to none administrative requirements for employers, many employers may still be left with questions on deadlines and procedures when it comes to this program. It is important to keep in mind employers with 5+ employers are required to comply with CalSavers if the company does not have a retirement plan through the private market.
Important Dates
July 1, 2019
CalSavers Retirement Savings Program opened to all eligible employers
June 30, 2020
Employers with 100+ employees are required to comply
June 30, 2021
Employers with 50+ employees are required to comply
June 30, 2022
Employers with 5+ employees are required to comply
Keeping up with new HR laws and regulations can be difficult for any company due to quickly changing policies and unclear guidelines. At SDHR Consulting, we are here to help you navigate your human resources and recruiting needs. Follow the link below to take our free HR compliance check, which is an important asset for you to see where your company stands when it comes to HR. Contact us to learn more about the services we offer and get in touch with one of our consultants.
