01 Jan TJH Payroll Makes CalSavers Processing Easy for California Employers
As part of California’s CalSavers Retirement Savings Program, businesses that don’t offer their own retirement plans must participate. The program, passed in 2016, can be a complex process for employers, but with TJH Payroll, it doesn’t have to be. Our payroll system streamlines the CalSavers process, automating reporting and contribution management to help your business stay fully compliant with minimal effort.
What is the CalSavers Program?
CalSavers was established to provide a retirement savings option for employees of businesses that don’t have their own retirement plan in place. Employers are required by law to either offer a qualified retirement plan or enroll in CalSavers. Businesses must ensure that their employees are given the opportunity to participate in the program, and manage payroll contributions on their behalf. This is where TJH simplifies the process for you!
How TJH Payroll Simplifies CalSavers Compliance
- Automated Contribution Management: Managing individual employee contributions to CalSavers is simple with TJH Payroll’s automated system. Once employees are enrolled, our system ensures that their contributions are deducted and transferred seamlessly, so you never miss a deadline.
- Employee Enrollment Made Simple: Enrolling your employees into CalSavers is effortless with our payroll system. Employee files can be uploaded automatically from TJH directly to CalSavers, freeing you from sending it manually. Whether employees choose to participate or opt-out, the process is handled automatically.
- Compliance Without Hassle: Staying compliant with state requirements can be daunting, but TJH Payroll takes that responsibility off your plate. Our team ensures that your business meets all the legal obligations of the CalSavers program, protecting you from penalties.
Why You Need CalSavers Compliance
Compliance with the CalSavers program isn’t optional for many California businesses. Employers with one or more employees are required to offer a retirement plan or enroll in CalSavers. Failure to comply can result in fines of $250 per employee if the business is non-compliant for 90 days, and an additional $500 per employee after 180 days. With TJH Payroll, you can rest easy knowing that you’ll avoid these penalties and offer a valuable benefit to your employees without extra administrative burden.
Simplify Your Retirement Plan with TJH Payroll
Offering your employees the benefit of a retirement savings program doesn’t need to be difficult. TJH Payroll makes managing your company’s CalSavers obligations easy, so you can stay compliant and focus on what matters most—running your business. We help you meet the requirements of the CalSavers program without the added stress.
Ready to Make CalSavers Compliance a Breeze?
Let TJH Payroll take care of your CalSavers processing needs. Get a personalized quote today and discover how we can simplify your payroll and retirement plan management.