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{"id":11218,"date":"2022-03-13T15:08:05","date_gmt":"2022-03-13T20:08:05","guid":{"rendered":"https:\/\/planetlaundry.com\/?p=11218"},"modified":"2022-03-13T15:08:05","modified_gmt":"2022-03-13T20:08:05","slug":"deadline-looming-for-california-retirement-savings-plan","status":"publish","type":"post","link":"https:\/\/planetlaundry.com\/deadline-looming-for-california-retirement-savings-plan\/","title":{"rendered":"Deadline Looming for California Retirement Savings Plan"},"content":{"rendered":"

According to the latest numbers from the U.S. Bureau of Labor Statistics, 45 percent of employers with fewer than 100 employees don\u2019t offer a retirement plan.<\/p>\n

California is one state looking to bridge that gap with a state-sponsored IRA savings plan called CalSavers. Small businesses operating in California with five or more employees have until June 30, 2022, to register for the CalSavers program or to establish a similar retirement plan that satisfies the state\u2019s requirement.<\/p>\n

CalSavers is an individual retirement account similar to programs started in Oregon (OregonSaves), Illinois (Secure Choice) and other states. Sponsored by the state, the CalSavers retirement savings plan is facilitated by employers and funded by employee investments via payroll deductions. The program:<\/p>\n