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SourceOne HCM is offering a CalSavers Alternative: Voya Financial®

Starting in November 2018, California is one of the first states to launch a mandated retirement savings initiative. California with at least five employees who do not already offer a workplace retirement savings plan are mandated to choose from the one-size-fits-all, state-provided, automatic Individual Retirement Account (IRA) or sign up for an eligible retirement plan with a private provider.

The implementation deadlines are as follows:

  • Businesses with more than 100 employees – Deadline: June 30, 2020
  • Businesses with more than 50 employees – Deadline: June 30, 2021
  • Business with 5 or more employees – Deadline: June 30, 2022

We’ve got the best alternative for YOU!

Voya Financial® (Voya) helps Americans plan, invest and protect their savings — to get ready to retire better. With a clear mission to make a secure financial future possible — one person, one family, one institution at a time — Voya’s vision is to be America’s Retirement Company®.

A leading provider of retirement products and services, Voya serves more than 50,000 institutional clients and nearly 5.7 million individual retirement plan investors.

Voya’s approach to delivering positive retirement outcomes sets them apart, helping employees achieve the best retirement outcomes by focusing on financial well-being, offering products and services that support asset accumulation and consistently measuring the retirement readiness of every employee. And with tailored 401(k), 403(b), 457 and non-qualified plans, they’re as flexible as employees are diverse.

For more information on myVoyage - a fresh, modern and boldly different participant experience that includes Voya’s myOrangeMoney®, Voya Cares®, and financial wellness assessment- visit here.

Contact your SourceOne HCM Customer Service Representative soon to find out more.

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