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
