ACTION REQUIRED: CALIFORNIA'S NEW RETIREMENT PLAN MANDATE
- Rafael Arredondo
- Oct 15
- 1 min read
California now requires all businesses with at least 1 employee to have a retirement plan for their workers. This could be a plan that you design such as a Simple IRA or a 401K or you can participate in the state-managed CalSavers program.
The CalSavers program is easy to join and participate in…you would just need to manage the payroll contributions/deduction and submit them via their portal.
If you have 5 or more employees, the deadline has already passed.
For those businesses with 1-4 employees, the deadline is the end of this year.
Falling to comply with this new mandate can result in fines.😞
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