CalSavers – California’s Mandatory Retirement Program


Back in 2016, California passed legislation that created a state-run retirement program. The program later became known as CalSavers. In order to comply with California’s law, employers have two options:

  • Employers may sponsor their own retirement programs, such as a 401(k).
  • Otherwise, Employers are required to participate in CalSavers, California’s state-run retirement program.

Regardless of the option you choose, under California’s laws, employers are required to have a retirement plan in place for their employees.

For employers with more than 50 employees, the deadline was June 30th, 2021.

For employers with 5-50 employees, the deadline to comply is June 30th, 2022.

Failure to comply may result in fines from the Franchise Tax Board.