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Employer Deadline for CalSavers Approaching in Less Than Three Months

Employer Deadline for CalSavers Approaching in Less Than Three Months


On April 7th, State Treasurer Fiona Ma reminded employers with more than 50 employees of the upcoming June 30, 2021 registration deadline for the CalSavers Retirement Savings Program, the State's new program for workers in the private sector that lack access to a workplace retirement plan. The reminder comes as the pioneering program hit a milestone of 10,000 employers registered.

4月7日,加州財政部長Fiona Ma提醒,擁有50名以上員工人數的雇主,2021年6月30日是登記CalSavers退休儲蓄計劃的截止日期。該計劃是加州為無法享受公司退休計劃的私營部門員工推出的新項目。這一開拓性的舉措,已經達到了10,000名登記雇主的里程碑。

Employers with more than 50 employees that do not offer a qualified retirement plan are required by state law to register for CalSavers by June 30, 2021. CalSavers has no fees for employers and is designed to be simple for employers and savers alike.


The registration deadline for employers with at least five employees is June 30, 2022, but eligible employers can register at any time and begin facilitating the program, even before their registration deadline. Noncompliant employers will face penalties of $250 per employee and additional penalties for sustained non-compliance.


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