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Resources and tools

State-run plans

CalSavers (CA)

California is currently working to implement its Secure Choice law, which would provide a voluntary workplace retirement savings plan that enables participation through automatic employee payroll contributions into a personal retirement account. The CalSavers program includes: 

  • Automatic payroll contribution of 3% of salary into a personal retirement plan, with the option to opt out.
  • Automatic escalation of contribution rates up to 8% of salary with participant ability to stop or change the rate.

​The law applies to employers with 5 or more employees who do not offer an employer-sponsored retirement plan. These employers will be required to offer an employer sponsored retirement plan, or enable employees to make an automatic payroll contribution to their CalSavers account.

Secure Choice (IL)

Businesses with 25 or more employees will be required to offer a retirement plan in 2018. Eligible workers who are not covered by a plan will be automatically enrolled in the state's Secure Choice program, which willl help them build retirement savings through a 3 percent payroll deduction. Workers covered by the measure are allowed to opt out of the program or reduce (or increase) their payroll deductions if they choose. The state Treasurer's Office is still finalizing implementation of the law. For an FAQ, click here

Other resources

Department of Labor: Choosing a retirement plan for your small business

IRS: Small Business Retirement Resources