SB1234 is better known as CalSavers, a mandatory state sponsored Roth IRA program. It is being phased in over two years and requires all companies with five or more W2s to enroll all employees at 5% of after-tax pay into the state program. Failure to do so results in a fine of $250 per employee after 90 days, then $500 after 180 days. This law affects the 285,000 business in California without a retirement plan.
Learn how to free your clients from the state requirement and chart their own futures, while getting paid in the process.