Feb 16
4 min read
California is Forcing you to Save. YES!
Yes, in fact, California is making you save for retirement. What exactly?
California state law as of June 30th, requires California employers to participate in a program called “CalSavers” if they do not sponsor a retirement plan and have 5 or more employees. One problem is that few people know the specifics so it probably makes sense to draft a Q&A of sorts answering questions about the rather unique plan. Here goes…
As an employer, do I have to facilitate CalSavers? Who is an eligible employer?
