CalSavers, A New State Retirement Plan
CAMEO, Small Business Majority, and the California SBDC Network invite you to hear about CalSavers – a retirement savings program that your clients can provide their employees for free!
Register for the webinar, CalSavers – California’s Free Retirement Program for Your Clients on October 23, 2018, at 2 pm.
Learn how the CalSavers program works and how you can educate your clients about this fantastic new program.
In July 2019, the state is launching a new retirement program that will enable employers to provide their employees with a payroll deduction Individual Retirement Account (IRA) at no cost to the employer or taxpayer. CalSavers will eliminate the three major concerns that small business owners cite as reasons for not offering a retirement plan: cost, liability, and complexity.
Fees = zero for employers to offer CalSavers.
Employers will have no fiduciary liability.
CalSavers will be administratively easy for employers to facilitate.
CalSavers will be professionally managed by a private sector financial firm with oversight from a transparent public Board. State law will require all businesses with five or more employees to either offer a retirement savings vehicle from the existing market or register for CalSavers. Deadlines for employers to comply will roll out over a three year period based on the size of business.