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CalSavers is a government-mandated Roth IRA program that is designed to give employees an easy retirement savings option. On the face of it, it seems pretty straightforward, but what is the real advantage of a retirement plan that only allows the same contribution as an IRA, with no company match? In addition, the DOL is continuing its argument that the program is “preempted by ERISA” which would invalidate it.

Other limitations to the CalSavers program are that it does not provide employers any discretion to determine the terms of the IRAs, the investments offered in the plan, or how the program operates.

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