CA SB1207

Renames the "California Secure Choice Retirement Savings Program" to the "CalSavers Retirement Savings Program" throughout the Government Code.

Requires eligible employers with 5 or more employees to offer payroll deduction retirement savings arrangements, with implementation timelines based on employer size (100+ employees within 12 months, 50+ within 24 months, all others within 36 months).

Establishes automatic enrollment in the program for eligible employees who do not opt out, with a default contribution rate of 3 percent of annual salary or wages, adjustable between 2-5 percent by regulation.

Authorizes the California Secure Choice Retirement Savings Investment Board to design and manage the program as an IRA-based retirement savings vehicle, including investment management and vendor registration processes.

Provides employers with liability protection, specifying they are not fiduciaries and bear no responsibility for the state-administered program's administration, investment performance, or participant decisions.