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California Business Owner Exemption for Cal savers

California Business Owner Exemption for Cal savers

June 21, 2022

Beginning July 1st, employers of five or more in California will be required to provide a retirement plan or sign up with the Cal Savers program. This alternative provides a payroll deduction Roth IRA for companies not willing or able to establish a traditional retirement plan. Typically a small business will use a 401(k) or SIMPLE IRA plan. If you have already established retirement plan, you need to request an exemption by logging in with your federal tax ID number.


See link below:

https://employer.calsavers.com/californiaertpl/enroll/createEmp/viewCollectEmpPreRegDetails.cs