The CalSavers Retirement Savings Program (“CalSavers”) is an automatic enrollment payroll deduction IRA overseen by the California Secure Choice Retirement Savings Investment Board (“Board”). Ascensus College Savings Recordkeeping Services, LLC (“ACSR”) is the program administrator. ACSR and its affiliates are responsible for day-to-day program operations. Participants saving through CalSavers beneficially own and have control over their IRAs, as provided in the Program Disclosure Booklet available at saver.calsavers.com. CalSavers is not sponsored by the employer, and therefore the employer is not responsible for the plan or liable as a plan sponsor.
CalSavers offers investment options selected by the Board. For more information on CalSavers’ investment options go to saver.calsavers.com. Account balances in CalSavers will vary with market conditions. Investments in CalSavers are not guaranteed or insured by the Board, the State of California, the Federal Deposit Insurance Corporation, or any other organization.
CalSavers is a completely voluntary retirement program. You may opt out at any time or reduce or increase the amount of your payroll contributions. If you opt out you can later opt back into CalSavers. Saving through an IRA will not be appropriate for all individuals. Employer facilitation of CalSavers should not be considered an endorsement or recommendation by your employer of CalSavers, IRAs, or the investment options offered through CalSavers. IRAs are not exclusive to CalSavers and can be obtained outside of the program and contributed to outside of payroll deduction. Contributing to a CalSavers IRA through payroll deduction offers some tax benefits and consequences. You should consult your tax or financial advisor if you have questions related to taxes or investments. Your employer does not provide financial advice and you should not contact your employer for financial advice. Employers are not liable for decisions employees make pursuant to Section 100034 of the California Government Code.