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Confident Business People

CalSavers

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The next deadline to meet CalSavers requirements is June 30, 2022

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Certain aspects of CalSavers may provide positive benefits to employees only, but there are alternatives that may prove more beneficial to both employees and employers with greater efficiency

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Key

What is CalSavers?

The State of California created CalSavers to ensure that all Californians have access to a workplace retirement savings program by providing a simple, portable, low-cost way for workers to invest in their futures. 

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CalSavers is a required retirement progam (payroll-deducted Roth IRA) that all

Challenges of CalSavers

We found that many aspects of CalSavers adds complexity, administrative burden and indirect costs to small businesses. Some of the areas that a BOLT retirement plan can improve are:

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Eligibility: you can control who and when an employee is able to participant in the plan. You can have the option of auto-enrollment but are not forced to like in CalSavers.

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Enrollment: you can control when eligible employees can enter the plan.

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Payroll Integration: in most instances, you can integrate your payroll data with a 401(k) provider elinimating the need to manually enter employee data and amounts being contributed to their accounts.

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Practice Areas

  • 401(k) & 403(b)

  • Pensions

  • Cash Balance Plans

  • HSA

  • Financial Education

  • 1 on 1 Meetings

  • Group Meetings

  • Wellness

  • Executive Bonus

  • Deferred Compensation

  • Stock Options

  • Key-Man Planning

  • Buy/Sell Planning

  • ​Business Exiting

  • Family-Owned

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