California Government Code

§ 100032

GOV § 100032 Effective Jan 1, 2023Title 21

Statute text

(a)Any employer may choose to have a payroll deposit retirement savings arrangement to allow employee participation in the program under the terms and conditions prescribed by the board.

(b)Within 12 months after the board opens the program for enrollment, eligible employers with more than 100 eligible employees and that do not offer a retirement savings program pursuant to subdivision (h) shall have a payroll deposit retirement savings arrangement to allow employee participation in the program.

(c)Within 24 months after the board opens the program for enrollment, eligible employers with more than 50 eligible employees and that do not offer a retirement savings program pursuant to subdivision (h) shall have a payroll deposit retirement savings arrangement to allow employee participation in the program.

…

Legislative history

Amended by Stats. 2022, Ch. 192, Sec. 2. (SB 1126) Effective January 1, 2023.