Add Payroll Benefit Roth IRA

[Marta]

I have a small business in California and use Square Payroll. Per the new mandate (2022) in this state Employers with five or more employees must participate in CalSavers if they do not already have a workplace retirement plan. I registered my business and set up our employees. (They have the ability to opt-out). However, when I went to add the benefits to Square Payroll, there was no option for a "Roth IRA". There are lots of other types of benefits to choose from, but not the one I needed. I called Square payroll. They said to talk to my accountant. He couldn't do anything. 

Now, I will need to find and sign up for a different retirement plan for my business and most likely pay for the plan. Cal Savers was free to sign up with and my understanding was that fees were super low. 

With all the other benefit options to choose from, I'm surprised "Roth IRA" isn't one of them. I'm frustrated that Square Payroll is unable to accommodate my state sponsored retirement program.  (There's even a square article that mentions setting up a Roth IRA for small business owners. https://squareup.com/us/en/townsquare/retirement-savings-smb )

Please add "Roth IRA" as a benefit to payroll.

Thank you.

[Kassi_]

Hey there, @Marta - 

There has been some moves made when it comes to adding IRA and other benefits to your Payroll for your employees. 

We do have the option for adding a Retirement/401K benefit. Check out this Support Article with some more information & how to get started. 

Here is another Support Article with some more information on your benefit options too.