Did you know that there are several different savings programs available to employers in the state of California? The CalSavers Retirement Savings Program is a byproduct of state-mandated retirement legislation. CalSavers has been designed to help Californians currently working in the private sector improve their financial security.

Thankfully, with the help of payroll services such as Primary Payroll, you can stay on top of all of the savings programs available to you. Even better, Primary Payroll is currently offering your 1st month free when you sign up for payroll service.

But, before you sign up, let’s take a closer look at the CalSavers Retirement Savings Program to see if your business qualifies.

What Is the CalSavers Retirement Savings Program?

CalSavers is sponsored by the State of California and is a retirement savings program. Facilitated by businesses, it is relatively simple to participate as there are no employer fees or fiduciary responsibilities.

How Does CalSavers Work?

The state of California requires employers to enroll their employees in CalSavers or sponsor a qualified retirement plan of their own. The way that CalSavers works is that employees contribute to their retirement plan through payroll deductions.

As an added perk to employees, they canare able to take their retirement savings with them, known as portability, if they change employment through their careers can participate in CalSavers. Otherwise, employers must elect a retirement savings provider option of their own.

CalSavers applies to for-profit and nonprofit businesses throughout the state.

CalSavers Registration Deadlines

The registration for CalSavers is based on the size of your business and are as follows:

  • Five or more employees: June 30, 2022
  • More than 50 employees: June 30, 2021
  • More than 100 employees: September 20, 2020

Choose Primary Payroll Services for 1 Free Month!

Primary Payroll services is a smaller company, which means we have the luxury of dedicating ourselves wholly to our clientele rather than getting lost in the shuffle with the more giant corporations. At Primary Payroll services, you will always receive our highest levels of customer service.

With Primary Payroll, you can enjoy your 1st month free when you sign up for payroll services today! Call us at 562-595-0066 or request a free quote online.

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Signal Hill, CA 90755

Phone: 562-595-0066
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