CalSavers Program

CalSavers is California's retirement savings program designed for workers without access to a retirement plan at work. It offers a simple and trusted way for millions of California workers to save for their future through individual retirement accounts. Participants have the freedom to choose their contribution amounts and investment preferences, empowering them to take control of their retirement savings.

Accessible to California workers without employer-sponsored retirement plans, self-employed individuals, and others looking to enhance their savings, CalSavers is a user-friendly program. Participating employers have minimal obligations, such as registering their company by set deadlines, processing payroll deductions, and maintaining updated employee records. This straightforward approach ensures a hassle-free experience for both employers and savers.

With automatic features and customizable options, savers can easily manage their retirement funds through CalSavers. Offering low fees and portable IRAs, the program provides a convenient pathway towards building a secure financial future. Employers with one or more employees are mandated to participate, but the process is streamlined with no employer fees, contributions, or fiduciary responsibilities, making it a beneficial and low-risk option for businesses.

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