The CalSavers Retirement Savings Program is approved by the Legislature and implemented as of January 1, 2017. The board shall consider and utilize the following parameters in designing the program:
(a)The board shall include a provider of in-home supportive services, as regulated by Article 7 (commencing with Section 12300) of Chapter 3 of Part 3 of Division 9 of the Welfare and Institutions Code in the program if the board determines, and the Director of the State Department of Social Services and the Director of the Department of Finance certify, in writing, all of the following:
(1)The inclusion meets all state and federal legal requirements.
(2)The
appropriate employer of record has been identified for the purpose of satisfying all the program’s employer requirements.
Free access — add to your briefcase to read the full text and ask questions with AI
The CalSavers Retirement Savings Program is approved by the Legislature and implemented as of January 1, 2017. The board shall consider and utilize the following parameters in designing the program:
(a)
The board shall include a provider of in-home supportive services, as regulated by Article 7 (commencing with Section 12300) of Chapter 3 of Part 3 of Division 9 of the Welfare and Institutions Code in the program if the board determines, and the Director of the State Department of Social Services and the Director of the Department of Finance certify, in writing, all of the following:
(1)
The inclusion meets all state and federal legal requirements.
(2)
The
appropriate employer of record has been identified for the purpose of satisfying all the program’s employer requirements.
(3)
The payroll deduction, described in Section 12302.2 of the Welfare and Institutions Code, can be implemented at reasonable costs.
(4)
The inclusion does not create a financial liability for the state or employer of record.
(b)
The board shall structure the program so as to ensure the state is prohibited from incurring liabilities associated with administering the program and that the state has no liability for the program or its investments.
(c)
The board shall determine necessary costs associated with outreach, customer service, enforcement, staffing and consultant costs, and all other costs necessary to administer the
program.
(d)
The board shall consult with employer representatives to create an administrative structure that facilitates employee participation while addressing employer needs, including, but not limited to, clearly defining employers’ duties and liability exemption pursuant to Section 100034.
(e)
The board shall include comprehensive worker education and outreach in the program, and the board may collaborate with state and local government agencies, community-based and nonprofit organizations, foundations, vendors, and other entities deemed appropriate to develop and secure ongoing resources for education and outreach that reflect the cultures and languages of the state’s diverse workforce population.
(f)
The board shall include comprehensive employer education and outreach in the program, with an emphasis on
employers with fewer than 100 employees, developed in consultation with employer representatives, with the integration of the following components:
(1)
A program internet website to assist the employers of participating employees.
(2)
A toll-free help line for employers with live and automated assistance.
(3)
Online internet web training.
(4)
Live presentations to business associations.
(5)
Targeted outreach to small businesses with 10 or less employees.