CalSavers Retirement Savings Program

Special Bulletin

The attached provides the basics for the CalSavers Retirement Savings Program.

There are mandates for specified employers and deadlines for participation.

Employers who do not sponsor a retirement plan with 5 or more employees must register by June 30, 2022

Penalties: Eligible employers who fail to comply “shall pay a penalty of $250.00 per eligible employee. If noncompliance extends to 90 days or more an additional penalty of $500.00 per eligible employee.

For more specific information and to register go to edd.ca.gov/en/employers/calsavers

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