If you've read our blog post on the CalSavers program, you may be wondering about the retirement plan you currently offer to your employees. In this article, we will outline the kinds of retirement plans that exempt you from enrolling in the CalSavers program.
California state law requires employers to either offer their own retirement plan or register to facilitate CalSavers. If you have at least five California-based employees, at least one of whom is age eighteen, and don't sponsor a qualified retirement plan, your business is required to register for CalSavers.
Below, we will outline these qualified retirement plans.
Still not sure if your businesses will need to register with CalSavers come June 30, 2022? Click here to schedule an appointment with one of Gold Standard's seasoned bookkeepers!
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