The CalSavers Retirement Savings Program first launched November 2018 with a pilot program and to all eligible employers beginning July 1, 2019.

CalSavers provides employees access to a retirement savings program without the administrative complexity, fees, or fiduciary liability of existing options for employers. Any employer with at least five employees that doesn’t already offer a workplace retirement savings vehicle will be required to either begin offering one via the private market or provide their employees access to CalSavers. CalSavers is operated solely through administrative fees, so there’s no cost to taxpayers. Eligible employers can register for CalSavers at any time and will be required to comply by the following deadlines:

The CalSavers program ensures nearly all Californians have access to a workplace retirement savings program. CalSavers offers employees a completely voluntary, low cost, portable retirement savings vehicle with professionally managed investments and oversight from a public, transparent board of directors, chaired by the State Treasurer.

MISSION:

Ensure all Californians have a path to financial security in retirement by providing a simple, portable, low-cost way for workers to invest in their futures.