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Retirement planning

Small Business

What is the CalSavers program, and what does it mean for companies in California?

July 7th, 2022

The CalSavers program started in July of 2019 as a way for companies to help their employees save money for retirement. While the program began in 2019, the retirement plan was phased in over time to allow companies and employees time to adjust.

The adjustment phase was accomplished by having companies with over a certain number of employees register at CalSavers. Companies with more than five employees will need to have registered by June 30th, 2022. If your company has more than five employees throughout the  year, you will need to register before then.

If your company has its own retirement plan already, you do not need to sign up for CalSavers.

Register at CalSavers by visiting and going to the Employers section. Then, click on Getting Started. The Register button is on the right-hand side.

After setting up your account, you will need to enter your list of current employees and your bank account information in order to pay contributions. CalSavers is an opt-out program, meaning employees are automatically enrolled in the system and must opt-out if they do not wish to contribute. Employees you have entered will receive an email and a letter asking them if they want to opt-out. They can also go to the CalSavers website to opt-out, but they still need to be registered. If an employee opts-out of CalSavers, any contributions they have made will still be there but they will not have any more deductions to their pay. Make sure to update your payroll program to reflect any changes.

After registering your company at CalSavers and adding employees, you’ll need to add a bank account to pay your contributions. You can also register multiple bank accounts to pay from. Double-check the information before finalizing it  and if you’re using multiple bank accounts, make sure you are paying from the correct one each time.

What are the employer’s responsibilities once the account is set up?

Once you’ve added the company’s bank account and employee list, you are ready to upload payday contributions. Payday contributions must be reported to CalSavers within seven days of the pay date. First, you need to enter the pay date of the payday. Then you can enter payday contributions by typing them directly on the CalSavers website or by uploading a properly formatted data file.

If you have a small number of employees, entering the data manually isn’t too difficult. However, with a larger number of employees, getting a program to create the data file for you will be more helpful.

Once all of the employee information has been entered, you will need to select a bank account to pay the contributions from. Confirm the bank account and the date to withdraw the funds. After the final confirmation, you have successfully completed the CalSavers payday contribution for your payday. As stated in the beginning, you will need to repeat this process within seven days of doing a payday in the future.

What are the alternatives to manually entering the CalSavers contributions and employee list?

Instead of maintaining the employee list and uploading payday contributions, you can register with a payroll company and give them access to your (Calsavers?) account. A payroll company, such as Paycheck Manager, will maintain your employee list and submit the payday contribution reports. The only thing you will need to do is make sure there are sufficient funds in the bank account.

To add a payroll company to your account, you need to enter their email address. Once that has been added, an email will be sent to them where they can accept your request and begin managing your CalSavers account.

You can remove a managing company whenever you want by logging back into your account and changing their settings.

What can Paycheck Manager do for you?

PaycheckManager can help you with all your payroll needs, not just with CalSavers. 

Our Managed Service will file returns and pay taxes for you all for the low cost of $12 plus $3 per employee, per month. Zero Worries. Enter your payday (or payroll)  data and

PaycheckManager will take care of the rest

Get started by going to and registering for a month-long free trial for the Managed Service.

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