Money Intelligence - 401(k) Made Easy

Why States Are Asking Small Business to Solve the Retirement Crisis

November 8, 2016 - Company News

California governor, Jerry Brown, signed the ‘California Secure Choice’ into law - a mandate that will require businesses of more than 5 employees to offer a state-sponsored retirement plan if they don’t already have one in place. The law will be phased in to give small businesses time to plan.

Small businesses are targeted to help with the retirement crisis because they employ the majority of private sector workers.

While the new law may be able to help with the retirement crisis, some small business owners are concerned about the potential administrative and regulatory burdens of the new law.

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