CalSavers Retirement Savings Program (formerly Secure Choice)

What This Means for Employers

Who does this program apply to?

CalSavers applies to employers with five or more employees who do not offer an employer-sponsored retirement plan. Employers who fit this definition will be required to either offer an employer-sponsored retirement plan, or enable their employees to make a direct payroll contribution to the employee’s personal CalSavers account.

When would I need to register my business?

After CalSavers opens for enrollment, eligible employers can register for CalSavers at any time and will be required to comply by the following deadlines:

Size of business Deadline
Over 100 employees June 30, 2020
Over 50 employees June 30, 2021
Five or more employees June 30, 2022

What will employers have to do?

Participating employers will have limited administrative responsibilities. They would be required to:

  1. Register for CalSavers at:
  2. Upload your employee roster to enable enrollment of employee.
  3. If applicable, designate payroll services provider to facilitate on your behalf.
  4. Transmit the payroll contribution to a third-party administrator to be determined by the Board.

Employer safeguards

  • Employers will not have any liability for an employee’s decision to participate in, or opt out of, the Program;
  • Employers will not have any liability for the investment decisions of participating employees;
  • Employers will not be a fiduciary of the Program;
  • Employers will not bear responsibility for the administration, investment performance, or the payment of benefits earned by participating employees;