cal savers - new state law
The law went into effect on July 1, 2019, and it stipulates, that every employer with 5 or more employees, must either provide their employees a business sponsored IRA, or the business must sign up with the State run CALSAVER program, and the employees participate from there.
Different size business have different time lines...
GO HERE to read more.
Yes, this is mandatory if you have 5 or more employees in CA.
Clear HR Solutions, Inc.