California Mandate – MMC 401k Notice

California has a new law requiring employers that do not already sponsor an employee-retirement plan to participate in a state-run retirement program called CalSavers.

Deadlines for compliance vary according to the size of the business

  • Employers with 50-99 employees have a June 30, 2021
  • Employers with 5-49 employees must register by June 30, 2022.

WHAT IS THE POTENTIAL IMPACT OF STATE-MANDATED RETIREMENT PLANS?

Did you know that MMC offers a robust retirement plan?

MMC’s 401(K) Savings & Retirement Plan offers a multiple employer retirement plan to its clients and employees.  By adopting the MMC plan, administrative responsibilities, enrollment support, communication, regulatory obligations are all shifted to our team to support and ensure your business is complaint in all aspects.  Our financial Advisor, NFP, supports our clients in determining which retirement plan would work best for their employees and their specific business.

Please contact the MMC Benefits Department at (800) 899-6624 to schedule a call with NFP 

IMPACT OF STATE-MANDATED RETIREMENT PLANS