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Date: March 10, 2020
Time: 11:00 am to 1:00 pm, Lunch Provided
Place: Schmid’s, 2610 E. Katella Avenue, Anaheim 92806
Cost: $35 Member, $50 Non-Members
Speaker: Jason Gilbert, Director Institutional Relationship Management, Ascensus Government Savings
California employers with 5+ employees that do not sponsor a retirement saving plan(s) will soon be required to participate in a new state-run retirement program called CalSavers. Employers that do not offer employees CalSavers or an alternative qualified retirement plan can be penalized up to $750 per employee for non-compliance with this new law.
Employers must register for the CalSavers program beginning in summer 2020, with staggered deadlines for registration based on employer size. Furthermore, the law requires employees to be auto-enrolled in the program – with automatic payroll educations withheld, used to fund Individual Retirement Accounts (IRAs) for employees. Employees may opt-out of the program, but must go out of their way to do so. Employer and employee education on this mandate is imperative. Come learn more about this law and get your questions answered.