The California Retirement Plan Mandate, CalSavers

CalSavers is designed to help employees who do not have a workplace retirement plan save for retirement.

The California retirement plan requirements have already kicked in for employers with five or more employees, with more requirements for California businesses on the horizon. Are you ready?

Because, under California law, beginning January 1, 2023, for-profit and non-profit employers with at least one employee (who is not the owners of the business) will face those same requirements to offer a retirement savings program or give their employee(s) access to the CalSavers Retirement Savings Program.