Five years ago, the California Legislature passed a law requiring most California employers to register for CalSavers, a retirement savings plan.
Employers that do not offer a private retirement plan and who have more than 100 employees should immediately comply with state law and register for the CalSavers Retirement Savings Program before penalties are imposed this month. The CalSavers Retirement Savings Board reports that more than 24,000 employers have already registered. Non-compliance penalties start at $250 per employee. Dozens of notifications and reminders have already been sent by letter and email from CalSavers. Read More