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401(k) for California Businesses

The deadline for businesses with 1-4 employees (excluding sole proprietors) to fulfill the CalSavers retirement coverage mandate is December 31, 2025.

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Paychex 401(k) Plan

A More Powerful Option Than the CalSavers Program

Fulfills the California state retirement mandate
Paychex sets up the 401(k) plan and helps with plan administration
Higher employee contribution limits than CalSavers IRA program, so employees can save more, faster
Employer tax savings opportunities, including potential tax credits
Payroll/401(k) retirement plan integration—one platform, one provider
The experience of the nation’s largest 401(k) plan provider¹

CalSavers IRA vs. Paychex 401(k) Plan

State — IRA

401(k) Plan (Offered by Paychex)

Employee Contribution Max Limit (2023)

$6,500

$22,500

Employer Matching Contribution Option

Yes, at employer’s discretion

Employer Tax Credits

Not available

Potential tax credits of up to $5,500 per year for the first 3 years.

Potential employer contribution credit of $1,000 (maximum) per employee ²

Employer Tasks

Employer processes payroll contributions, updates contribution rates, adds newly eligible, etc.

Paychex makes administration simpler as your recordkeeper

Simplify Retirement Plan Management With Paychex Flex

Watch our demo to see the power of Paychex Flex, step by step.

Empower and Attract Employees
Empower and Attract Employees

Innovative retirement self-service tools make it easy for 401(k) participants and employees to access accounts via mobile device or online portal.
Make it Easy to Enroll in Your Plan
Make it Easy to Enroll in Your Plan

Quick enrollment feature allows employees to sign up for a retirement plan in four clicks.
Give 401(k) Participants Access to their Account
Give 401(k) Participants Access to their Account

Our online dashboard gives an at-a-glance view of accounts and enables 401(k) participants to make elections quickly. They can maximize contributions with the auto-increase feature, check their progress, and select investments.
Simplify Complex Plan Management
Simplify Complex Plan Management

Complex processes such as investment selection, changing plan contributions, existing and pending loan status, and distribution methods including direct deposit options are simplified with an easy-to-use dashboard.

Recognized by Industry Experts for Our Innovation, Ethics, and Service

Largest 401(k) recordkeeper by number of plans 2022

Largest Recordkeeper by Number of Plans

For 12 consecutive years, Paychex has been named the No. 1 401(k) recordkeeper in the country by a number of plans, according to PLANSPONSOR Magazine

World's Most Ethical Companies

Paychex was honored by the Ethisphere Institute as one of the World’s Most Ethical Companies for 2022. Being a 14-year honoree underscores Paychex’s commitment to ethical business standards and practices, ensuring long-term value to key stakeholders including customers, investors, and employees.

World's Most Admired Companies

Paychex was named to FORTUNE magazine’s 2022 list of the World’s Most Admired Companies, an honor that recognizes companies for their corporate reputation and outstanding financial performance.

Paychex was named a 2021 Stevie® Award silver winner for the Most Valuable COVID-19 Response by a Business Development Team.

Excellence in Sales & Customer Service

For the fifth consecutive year, Paychex has won a Stevie Award for Excellence in Sales & Customer Service. This year, a panel of judges selected Paychex the company’s rapid response to the COVID-19 pandemic as a 2021 silver winner for the Most Valuable COVID-19 Response by a Business Development Team.

How a California Plumbing Business Made Retirement a Fixture

With the state of California requiring most employers to offer an employee retirement option, Plumbing M.D. embraced the opportunity and turned to Paychex. The business saw some surprising results: 100 percent participation in their Paychex 401(k) plan, and employees under the age of 30 who are enthusiastic about the plan.

Pooled Employer Plan: The 401(k) Plan Designed for Small to Medium-Sized Businesses

The Paychex Pooled Employer 401(k) Plan (PEP) makes it easier for business of any size to offer a 401(k) plan, one of the most popular retirement plans for employees.

A business owner considering a PEP Retirement Plan

Find a 401(k) Plan That Fits Your Needs

We have specialists ready to help you understand your plan options and to make sure that you are choosing the plan that best fits your needs.