CalSavers Retirement Savings Program

A simple, trusted way to save for retirement.


 

Currently, 7.5 million Californians do not have access to a retirement savings program through their employer.

 

And nearly half of Californians are projected to retire into economic hardship – at or below two times the federal poverty level. Most of these Californians are people of color and women.

CalSavers, a new retirement savings program, is designed to give Californians an easy and simple way to save for retirement. In fact, state law now requires all businesses with five or more employees to either offer a retirement savings vehicle from the private market or facilitate CalSavers with rolling deadlines over the coming 3 years.

United Way Bay Area is excited to help the California State Treasurer's Office raise awareness about CalSavers and connect Bay Area employers and savers to the program. Investing in retirement savings is critical to building wealth among low-income families and ending generational poverty.

Learn more and enroll in CalSavers today!

Employers

Help your employees save for retirement! Here are 5 things you should know.

Learn More

Employees

Workplace retirement savings just got easier! CalSavers is an easy way to save for retirement.

Learn More

Individuals

If you’re self-employed or don’t work for an employer registered with CalSavers, you can now contribute directly.

Learn More

CalSavers.com

Visit the official CalSavers site.

Go to CalSavers.com

EMPLOYERS

 

Did you know? CalSavers is now available! Here are 5 things you should know:

 

  1. CalSavers will allow you to provide a retirement savings program to your employees, and allow you to comply with California law, requiring all employers with 5 or more employees to provide either a qualifying, employer-sponsored retirement plan, or to facilitate access to CalSavers.
  2. CalSavers is a simple, trusted way to save for retirement. CalSavers is a state-sponsored retirement savings program, overseen by a public board, chaired by the CA Treasurer.
  3. You can sign up for CalSavers NOW, before your deadline: June 30, 2020, Employers with more than 100 Employees, June 30, 2021, Employers with more than 50 Employees, June 30, 2022, Employers with 5 or More Employees.
  4. With CalSavers, employers have NO fiduciary liability, and NO employer fees.
  5. Employers have a limited role: enroll your employees and submit their contributions via simple payroll deduction.

 

Signing up is easy. Register for CalSavers at calsavers.com today!

EMPLOYEES

 

Get on the path to a more secure retirement by making automatic payroll deductions to a portable retirement savings account.

 

  1. If your employer has 5 or more employees, and does not provide an employer-sponsored retirement plan (like a 401k), they are required by state law to enroll you in CalSavers. If you are 18 years or older, have a SSN or ITIN, and employed in California, you may be enrolled soon!
  2. CalSavers allows you to save for retirement with a Roth Individual Retirement Account (IRA), a portable account that belongs to you; the Roth IRA stays with you even if you switch jobs.
  3. CalSavers is completely voluntary; you can opt out, or opt back in at anytime.
  4. The CalSavers program provides automatic payroll deductions, beginning with 5% of your income, but you can change your contribution amounts and investment options at any time.
  5. You can take out your contributions at any time, without any taxes or fees.

 

Learn more or view your savings at savers.calsavers.com

INDIVIDUALS

 

If you’re self-employed or don’t work for an employer registered with CalSavers, you can now contribute directly.

 

  1. CalSavers is a simple, trusted way to save for retirement, and you can enroll as an individual! You'll need to be 18 years or older, have a SSN or ITIN, have a bank account and earned income.
  2. CalSavers will allow you access to a Roth Individual Retirement Account (IRA), a portable account that belongs to you; the Roth IRA stays with you if switch or start a new job.
  3. You can make contributions from your bank account, and you can set up recurring payments, or make one-time contributions.
  4. CalSavers is completely voluntary; you can opt out, or opt back in at anytime.
  5. You can take out your contributions at any time, without any taxes or fees.

 

Learn more or begin saving at savers.calsavers.com