I like state mandates for retirement plan coverage, because it increases interest in employers sponsoring 401(k) plans. I’m of the opinion that when push comes to shove, employers would rather sponsor their own 401(k) plan or...more
The California Legislature has enacted several new laws that will impact the workplace in 2023. This Holland & Knight alert provides a brief summary of select employment laws that go into effect on Jan. 1, 2023, unless stated...more
Effective January 1, 2023, Senate Bill 1126 expands California’s CalSavers Retirement Savings Program by requiring employers with at least one employee to register for CalSavers by December 31, 2025, if the employer does not...more
On August 26, 2022, the Governor of California signed Senate Bill No. 1126 (“S.B. 1126”) into law, amending California’s CalSavers Retirement Savings Program (“CalSavers”). In general terms, CalSavers automatically enrolls...more
Employers who do not sponsor a qualified retirement plan, such as a 401(k) plan, and have at least five employees in California must be sure to promptly enroll in California’s CalSavers program....more
California Governor Gavin Newsom recently signed legislation that will expand CalSavers, the state’s IRA-based retirement program, to cover virtually all California employers that do not sponsor their own qualified retirement...more
In 2016 California passed legislation that employers who do not sponsor an employee-retirement plan must participate in a state-run retirement program. This program became known as CalSavers....more
As of June 30, 2022, employers with at least five California employees must register for the CalSavers Retirement Program if they do not otherwise offer a 401(k) plan to their employees. The CalSavers Retirement Savings Trust...more
The deadline for California employers with between 5-50 employees to either register for, or opt out of, the CalSavers Retirement Savings Program is quickly approaching. ...more
The United States Court of Appeals (9th Circuit) recently upheld California’s CalSavers Retirement Savings Program (CalSavers), which provides retirement savings accounts to employees without employer retirement benefit...more
This week, the Ninth Circuit resolves a novel preemption challenge to California’s CalSavers retirement scheme, and revisits a well-tread preemption question on Nevada homeowner’s association liens. HOWARD JARVIS...more
All the way back in 2016, California passed legislation that employers who do not sponsor an employee-retirement plan must participate in a state-run retirement program. This program became known as CalSavers. While...more
The CalSavers Retirement Savings Program (CalSavers) was established to assist the estimated 7.5 million California employees without employer retirement savings plans. Mandatory compliance is phased-in over time and depends...more
The deadline for California’s largest private-sector employers to either register for, or opt out of, the CalSavers Retirement Savings Program is quickly approaching....more
By September 30, 2020, all California companies with more than 100 employees must register with the CalSavers Retirement Savings Program (CalSavers) or certify that they are exempt. Employers without employer retirement...more
Important Upcoming Registration Deadline: California employers with more than 100 employees are required to register (or certify as exempt) with the CalSavers Retirement Savings Program (CalSavers) by September 30, 2020 (the...more
With an alarming number of American workers lacking adequate retirement savings, California and a handful of other states began implementing state-sponsored retirement savings programs. The CalSavers Retirement Savings...more
Beginning as early as June 30, 2020, California employers with 5 or more California-based employees not already offering an employer-sponsored retirement plan will have to begin offering a retirement savings program, either...more