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CalSavers staff brief Daly City Small Business Commission on state-mandated retirement program
Summary
Irma Ruiz of CalSavers told the Daly City Small Business Commission that employers who report employees to EDD must register for the state retirement program, outlined enrollment rules and employer responsibilities, and described support resources and enforcement notices.
Irma Ruiz, an outreach and client-service analyst with CalSavers, briefed the Daly City Small Business Commission on Feb. 12 about the state-run retirement program and what small employers in Daly City should expect.
Ruiz said CalSavers was created after research showed many Californians face retirement shortfalls and lack access to workplace plans. "Nearly 50 percent of Californians are projected to retire to economic hardship at or below 2 times the poverty level," Ruiz said, and she added that "7,500,000 Californians lack access to a workplace retirement plan." She explained the program’s central design: employers who report workers to the Employment Development Department (EDD) must register,…
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