Welcome to CalSaversHelp.com
CalSavers is a Payroll deduction IRA retirement plan offered by the State of California.
| CalSavers | Mrs401k.com Pooled Employer Plan |
Sponsored by: | CalSavers | Mrs401k.com |
Funded by: | CalSavers | Mrs401k.com |
Cost to Employers: | None | None |
Cost to Employees: | $0.83 - $0.95 per year for every $100 in the employee's account depending on the employee's investment choice | $0.32 - $0.95 per year for every $100 in the employee's account depending on the employee's investment choice |
Investment options: |
Money Market Fund
Target Retirement Date Funds
Bond Fund
Global Equity Fund
Environmentally and Socially Conscious Fund
| Thousands of individual stocks, bonds, mututal funds, target date funds and exchange traded funds |
Asset custodian | CalSavers | TD Ameritrade |
Employer obligations | CalSavers | Mrs401k.com |
Employee obligations | CalSavers | Mrs401k.com |
- All California employers with 5 or more full or part time employees must now offer their employees a retirement plan or enroll in CalSavers
- CalSavers is California’s new retirement savings program for workers in the private sector who do not currently have a way to save at work. It's simple and completely voluntary for employees.
- Funded by employee savings (no employer fees or contributions)
- Employee participation is completely voluntary and they can opt in or out at any time
- Administered by a private-sector financial services firm and overseen by a public board chaired by the State Treasurer
- Limited Employer obligations
- Upload employee information to CalSavers
- Submit participating employee contributions to CalSavers via simple payroll deduction
- There are no fees for employers to facilitate the program and employers are not fiduciaries of the program
- Cost to employees:
- $0.83 - $0.95 per year for every $100 in the employee's account depending on the employee's investment choice
- Pays for: Administration of the program
- Underlying fund expenses
- This asset-based fee is automatically taken out of the account balance on a regular basis
- Flexible employee participation and investment choice
- Standard investment options and savings rate of 5%
- Flexibility to choose savings rate and investments
- Choice to opt out or back in at any time
- CalSavers participants can stick with standard investment options or choose from a simple menu from conservative investment options that seek to protect the principal to aggressive investments seeking higher returns. When employees invest in CalSavers, they get access to high quality mutual funds and other investment options, the value of which will vary with market conditions.
- Investment options include:
- Money Market Fund
- Target Retirement Date Funds
- Bond Fund
- Global Equity Fund
- Environmentally and Socially Conscious Fund