CALSAVERS IS THE SOLUTION FOR SMALL BUSINESSES
“There’s a new way to save for retirement in California. Here’s how it works” (sacbee.com, July 1): Many California small businesses struggled for years to help their employees access retirement programs. That struggle is finally over, however, thanks to CalSavers — a new state-run program for small businesses that don’t have the resources to help their employees access retirement options. CalSavers will help small business employees access a retirement savings program at no added cost to their employers, leveling the playing field for small firms trying to compete with larger corporations that provide robust employee compensation. California’s small business owners strongly support programs like CalSavers. In fact, polling released by Small Business Majority and the American Association of Retired Persons found 73 percent of California small business owners said being able to facilitate a voluntary, portable retirement program would help them attract and retain top employees. CalSavers didn’t just level the playing field, it changed the game. And that is great news for small firms.