5 or More Employees? Read this!

California employers — including nonprofits — are required by state law to facilitate enrollment in the CalSavers program if they don’t offer an employer-sponsored retirement plan and have five or more employees. All eligible employers can register at any time prior to their registration deadline. The deadline for employers with more than 50 employees was June 30, 2021. The deadline for those with 5 or more is June 30, 2022.

Don’t get caught behind on this one! If you are not in compliance, you face a fine of $250 to $500 per employee. Click the the link below for full information.