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California Business Owner Exemption for Cal savers

California Business Owner Exemption for Cal savers

| June 21, 2022
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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

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