The CalSavers Lowdown for Small Businesses: Upcoming Deadline and FAQs

June 23, 2022 | From HRCalifornia Extra

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.

  • ​​


    This premium content is for our members. For immediate access, join online or by phone at 800-331-8877. Or Start a Free Trial Now for 7 days.

    Already a Member? Sign In Below.

Sign In
Remember Email