SB 1234 will require all California private employers with at least five employees, who do not offer their own retirement plan, to enroll their workers into the state-run California Secure Choice Retirement Savings Program, which will operate like a 401(k).  The retirement fund will be overseen by a state board and administered by private companies that have not yet been selected.  Employees are expected to be able to enroll and start investing money in 2018.