California employers are required to facilitate CalSavers if they don’t offer an employer-sponsored retirement plan and have five or more employees. The three-year phased rollout begins in 2019, with staggered deadlines for registration based on employer size. All eligible employers can join at any time prior to their registration deadline.
100+ employees
June 30, 2020
50+ employees
June 30, 2021
5 or more employees
June 30, 2022
We understand that running a business is hard work. So, we’ve made facilitating CalSavers as easy as possible. Setting up your account is a simple four-step process, followed by some light account maintenance.
If you have someone at your business, such as an HR manager or an external payroll vendor to help you facilitate CalSavers, they can be added as a delegate or payroll representative. You can assign your associates to various roles that give them different levels of responsibility and authorization within the program.
You must add at least one payroll list to your account and set a payroll date that is at least 30 days from the date you create the payroll list. Please see the handbook or checklist for more detailed information.
You’ll need to add all employees so that we can contact them to either customize their account and make saving elections, or notify them of what actions to take if they choose to opt out of the program. You can either add employees manually (if you only have a few employees) or you can use our Employee Information Template to upload the information (if you have many employees).
During your usual payroll process, you will deduct a percentage of each participating employee’s pay and send it to CalSavers. The percentage for each employee will be shown on your employer account page. Information can be entered either manually by using an online form or in bulk using the Employee Contribution Information Template.
Once your CalSavers employer account is set up and ready to go, you’ll be responsible for ongoing maintenance: submitting employees’ contributions, and adding new employees or removing employees who have left your company.