By Katie Culliton, Editor, CalChamber
CalSavers — a retirement savings program for private-sector employees whose employers don’t offer a retirement program — entered the scene in July 2019. The program, enacted by California state government, gives employees the opportunity to defer their wages, through payroll deductions by the employer, to a state-managed individual retirement account (IRA) program.
The last deadline in a three-year phased rollout is fast approaching — employers with five or more employees must register by June 30, 2022. Newly eligible businesses that launched in 2022 must register by December 31, 2022.
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