(Photo: Shutterstock)
CalSavers is a government-mandated Roth IRA program that is designed to give employees an easy retirement savings option. On the face of it, it seems pretty straightforward, but what is the real advantage of a retirement plan that only allows the same contribution as an IRA, with no company match? In addition, the DOL is continuing its argument that the program is "preempted by ERISA" which would invalidate it.
Other limitations to the CalSavers program are that it does not provide employers any discretion to determine the terms of the IRAs, the investments offered in the plan, or how the program operates.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
