CalSavers Officially Moves Back 2020 DeadlineCalSavers Officially Moves Back 2020 Deadline
Employer enrollment in California's auto-IRA program has been hamstrung by the coronavirus pandemic.
California’s auto-IRA program, CalSavers, has moved its June 30 employer registration deadline to September 30, in light of the coronavirus pandemic. In a unanimous vote, the oversight board decided to move a deadline in place for employers with more than 100 employees from the summer to the fall, according to an email provided to WealthManagement.com.
"We hope this action will help employers as they navigate through this difficult time. We are ready to help employers get started as they move into recovery," said Fiona Ma, California state treasurer and chair of the California Secure Choice Retirement Savings Investment Board.
CalSavers is continuing to operate through the pandemic and is still taking employer registrations. There are no fees or fiduciary liabilities for employers, according to program materials.
Deadlines for 2021 and 2022, affecting employers with even smaller head counts, are still in place.
