CalSavers vs. 401(k)

This is a comparative chart showing the differences between a CalSavers Plan and an Employer-Sponsored 401k Plan

As an Employer in California, you may have received information or heard about the implementation of the CalSavers Retirement Savings Program, a program that the state of California has established as a state-sponsored IRA savings program.  State law mandates that all California employers with five or more employees offer a retirement savings vehicle or facilitate their employees’ access to CalSavers.  The deadline for employers to comply with registration is as follows:

This chart shows the CalSavers start dates for different sized employers.

We at NLH & Company have provided retirement plan service in the Northern California area since 1988 for a diverse cross section of business, including professional, service, manufacturing and not-for-profit enterprises.  We pride ourselves in total commitment to serving our clients in a quality and cost-efficient manner, with an emphasis on providing administrative services tailored to suit the unique requirements of our clients.  Our company is ready to assist you in the design, implementation and administration of all types of employer-sponsored retirement plans, including Traditional 401(k) Profit Sharing Plans, Safe Harbor 401(k) Plans, and 403(b) Plans.  All of these are types of Qualified Retirement Plans and will serve to satisfy the state of California’s mandate as noted above. 

Our office would love the opportunity to discuss how we can help you be compliant with the new mandate and offer the best solutions for both you and your employees to save for the future. 

2530 J STREET, SUITE 230

(916) 669-2355

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