CA SB1126

Expands the definition of "eligible employer" under the CalSavers Retirement Savings Program from requiring 5 or more employees to requiring at least one eligible employee, while excluding sole proprietorships and self-employed individuals with no other employees.

Eliminates prior tiered timeline requirements and consolidates employer obligations into two stages: employers with 5 or more employees must establish a payroll deposit retirement savings arrangement within 36 months of program enrollment, and all other eligible employers must do so by December 31, 2025.

Allows the CalSavers Retirement Savings Board discretion to extend the compliance timelines established for employers.

Makes a continuing appropriation of trust moneys to fund the expansion of the program to smaller employers with one or more eligible employees.