The next deadline for registration with CalSavers, the state-run retirement plan for employees whose employers don’t offer one, is coming soon. Employers with 51-100 employers that do not offer a plan have until June 30 to register.
CalSavers was launched on July 1, 2019. Employers in California with more than 100 employees were required to register by Sept. 30, 2020; the original deadline had been June 30, 2020, but on April 15, 2020 the CalSavers Retirement Savings Board decided to extend the deadline for those employers because of the
COVID-19 pandemic. Employers with 51-100 employees have until June 30, 2021.
After June 30, 2021, there will be one more registration deadline: employers with five or more will have until June 30, 2022 to register.
Employers that do not register by the applicable deadline face penalties of $250 per employee and additional penalties for sustained noncompliance.
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