California Secure Choice Retirement Savings Program
SB 1234 Deadlines for Employers
California now requires opt-out private retirement accounts
SB 1234 established the California Secure Choice Retirement Savings Program. Any employer with at least five employees that doesn’t already offer a workplace retirement savings vehicle will be required to either begin offering one via the private market or provide their employees access to CalSavers. The program allows employees to voluntarily contribute to their own private retirement account, administered by the state. The program is now called CalSavers. Employers will be required to offer the program to employees, and be the conduit for payments to be deducted from payroll. While employers have no fiduciary liability, nor are responsible for the employee’s decision to participate in, or opt out of the program, it may be impose a significant burden for employers.
The Pilot program launched in November of 2018, with 50 companies voluntarily participating. The program deadline dates for employers to register and participate are as follows:
• Over 100 employees, June 30, 2020
• Over 50 employees, June 30, 2021
• 5 or more employees, June 30, 2022
Visit this site to learn more: CA Treasurer
About CSA Team
CSA’s Executive Director, Roy Flahive, has worked within the sign industry for more than 50 years. He served an apprenticeship in the International Brotherhood of Electrical Workers (IBEW), owned his own sign company for almost 30 years and he is well-known and highly respected in the sign industry, having served on numerous boards, including those of the International Sign Association (ISA), San Diego Area Lighting Advisory Council, Arizona Sign Association, Western States Sign Council, San Diego Mayors Sign Code Task Force, and UL’s Industry Advisory Committee. Notably, Flahive has twice been elected President (Chairman of the Board) of CSA and has served over 30 years on that board.
Cheryl Flahive, CSA’s Director of Member Services, has worked within the sign industry for over 33 years; twenty of those years, as vice president of a sign company in southern California. She has served in various administrative roles, from finance to project management, and is dedicated to helping CSA members at all levels.
The CSA Communications Committee, made up of committed industry leaders, works in a behind the scenes capacity, to keep CSA members educated and informed.