New Program Helps California Workers Without Pension, 401(k) Save for Retirement

In California, 61% of private sector workers have no access to a pension or 401(k). (Credit: Michael Robinson Chavez / Los Angeles Times)

In California, 61% of private sector workers have no access to a pension or 401(k). (Credit: Michael Robinson Chavez / Los Angeles Times)

Are you a worker worried you won’t have enough money to retire?

Are you an employer who doesn’t offer either a pension or a 401(k) to your workers?

If so, CalSavers is aimed at you.

On July 1, California launches an ambitious state-sponsored retirement program for the private sector. All employers with five or more workers will be required to sign on if they don’t offer their employees a way to save and invest for retirement. As many as 300,000 businesses must comply over the next three years.

Read the full story on LATimes.com.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.