Mandatory Employer Sign-ups for CalSavers Have Begun

| posted in Blog, Newsletter

If your company does not offer its staff a 401(k) plan, you need to be aware of deadlines for registering your employees in the CalSavers Retirement Savings Program. The program is designed to help California workers who do not have access to an employer-sponsored retirement plan start socking away money for their retirement. Employers with five or more workers are required to give their employees access to the CalSavers program, which was launched in 2019. CalSavers deadlines Deadlines for when employers have to adopt the program depends on their size: Businesses with more than 100 employees: Sept. 30, 2020 Businesses…
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Five Ideas for Boosting 401(k) Enrollment

| posted in Blog

While some employees understand the need to set aside money for retirement, many – especially your younger workers – likely do not. That mindset can perhaps be chalked up to inexperience and immaturity, or that they think they cannot spare the funds. But you as an employer can help generate more interest in retirement savings through motivation, education and making it relevant to your workers. As the start of 2016 looms, and with it open 401(k) plan open enrollment, it’s time to start thinking of ways to boost your employee engagement. The website taxbreakll.com has the following recommendations: • Conduct…
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