CalSavers is an Individual Retirement Account (IRA) for individuals who do not have access to a retirement plan through their place of employment, self-employed and seasonal workers, and others who might want to save extra. People can opt to invest anywhere from 0% to 5% into their IRA, and their plan is transferable if they change jobs. This new retirement savings program will offer millions of California workers the opportunity to get on track for their future.
With CalSavers, California businesses will be required to provide retirement plans to their employees, depending on how many employees they have. This program is offered to employers at no cost.
CalSavers enrollment begins automatically at 5%, but you can opt out at any time or change how much you save. CalSavers is completely customizable.
For employers, registration is quick and easy. There are no employer fees and no fiduciary responsibility.
For individuals, CalSavers offers automated features or customizable options. You can opt out or back in at any time. The IRA is portable and offers simplified investing with low fees.
Whether you’re an individual or a business interested in CalSavers, we're here to answer any questions you may have.