Fun Fact of the Day, July 30, 2019

July 30, 2019

State Steps In - California began “CalSavers” on 7/01/19, a state-sponsored retirement program for workers within the state that do not have access to an employer-sponsored retirement plan. The program is mandatory for all employers who do not offer a retirement plan and have at least 5 employees and will be phased in over the next 3 years. Self-employed Californians can enroll beginning in September 2019. All participants are limited to contributions up to standard IRA maximums and are provided 5 investment options (source: CalSavers).

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