In today’s rapidly changing workforce landscape, retirement security is a growing concern for both employers and employees. To address this challenge and provide a reliable retirement savings option, the state of California has introduced the CalSavers program, which is designed to provide Californians with a simple, accessible, and cost-effective way to save for retirement.
As a trusted payroll partner, we’re here to help guide our clients through the intricacies of CalSavers, sharing expert insights, pro-tips, and best practices to help maximize the program’s advantages. Our payroll professionals are available to help describe this process, make recommendations, and offer solutions. Contact us today…or anytime…for pro-tips, assistance, and any CalSavers questions you may have.
Here are a few basic pro tips and considerations when implementing, managing, and comparing CalSavers to other retirement program solutions:
Data Management & Integration – Employee data, such as names, addresses, dates of birth and Social Security numbers are accurately and securely managed within the payroll system. Conduct regular reviews of this information to ensure it is up-to-date in your payroll system and with CalSavers.
Employee Eligibility Verification – Employees must meet certain criteria, such as being at least 18 years old and not participating in an employer-sponsored retirement plan. Our payroll professionals can help provide guidance in this regard. If you’re unsure about employee eligibility, please contact us. We can help.
Enrollment Assistance – Businesses with questions about enrolling eligible employees in the CalSavers program can reach out to our payroll pros. Gathering necessary information and ensuring that employees are correctly registered for the program is critical. CalSavers also offers assistance at its website Help Center.
A payroll partnership also offers assistance with contribution management, compliance and reporting, education, communication, recordkeeping and ongoing support. Staying informed about any changes to the CalSavers program and ensuring our clients remain in compliance with evolving regulations is a commitment we strongly uphold at Southland Data Processing.
Access to information, webinars, resources, and payroll professionals ready to personally assist and answer any questions is part of our service standards that all clients enjoy. Our expertise and support are invaluable to ensuring your organization and employees are making the most out of its retirement savings program.
Our payroll professionals assist our clients with payroll, workforce management, benefits administration, and human resources needs. To get started or learn more about these solutions, simply contact us today.
We also invite you to meet with us today for a complimentary HR consultation and to learn how we can support objectives, overcome challenges, and address issues quickly and accurately.
For more information about our payroll services, please contact our payroll professionals at 909.946.2032. Or, click here and Let’s Talk!
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*Southland Data Processing, Inc. (“SDP”) is not a law firm. This article is intended for informational purposes only and should not be relied upon in reaching a conclusion in a particular area of law. Applicability of the legal principles discussed may differ substantially in individual situations. Receipt of this or any other SDP materials does not create an attorney-client relationship. SDP is not responsible for any inadvertent errors that may occur in the publishing process.