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bmaxey
August 20, 2022
Question

EFT CalSaver Contribution in Enhanced Payroll where is it sent?

  • August 20, 2022
  • 1 reply
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Anyone out there does payroll in California? I need to know where I EFT CalSaver contributions on payroll run. I'm not sure if it goes to EDD or to the mailing address for CalSaver in Boston, Mass. Thank you

1 reply

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Charies_M
August 20, 2022

Welcome to the Community, bmaxey.

 

As per CalSaver Program, initial contributions to a CalSavers account will be invested in the CalSavers Money Market for 30 days. The, the existing savings and future contributions will be invested in a CalSavers Target Retirement Fund. However, for the EFT, I suggest reaching out to your State to confirm where will the fund transfer go.

 

To learn more about the process, consider checking out this article: Employee payroll tax exemptions.

 

Please let me know if you have follow-up questions while working with CA payroll. I'll get back to you right away. Have a good one!

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