CalSavers 101: What Employers Need to Know

June 20, 2019 | From HRCalifornia Extra

by Erika Pickles, J.D.; Employment Law Counsel/HR Adviser, CalChamber

Back in 2016, the California Legislature passed a bill that laid the foundation for a state-run retirement plan — a plan, called the California Secure Choice Retirement Savings Investment Program at the time, that would provide workers whose employers didn’t offer a retirement plan a way to save for their retirement. Before the program could open and employers could begin enrolling in it, regulations had to be developed — a process that was expected to take at least two years.

While that was happening, employers could do nothing but wait to see whether the resulting program would be feasible and how they would comply.

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