When you save with CalSavers, you’ll put your money to work for you:
You can enroll through your employer if they register for the program or sign yourself up. You may be eligible to open and maintain an account if:
NOTE: CalSavers accounts are Roth (post tax) IRAs, and those with higher incomes may not be eligible to contribute. If you earn more than the Roth IRA income limits set by the federal government, you may need to opt out of CalSavers or recharacterize to a Traditional IRA. Learn more about contribution limits. CalSavers offers savers the option to recharacterize their contributions to a Traditional IRA. You can complete this action online, use this form, or contact Client Services to get the process started.
Thirty (30) days before you are automatically enrolled in CalSavers, you’ll receive a notice asking you to set up your account, opt out, or wait to be automatically enrolled.
If you choose not to take action on your account, you will start saving automatically after 30 days with the standard savings and investment elections:
You’ll need the following information to access your account and customize it.
Once you have finalized your account by verifying your contact information and signed all account documents, you are able to:
You can opt out of CalSavers at any time, but you must be added to CalSavers by an employer before you can opt out. There are three convenient ways to opt out. The easiest way to opt out is either by calling our automated phone system at (855) 650 – 6918 or through our website. You can also choose to download, complete, and mail-in a paper opt-out form.
If you opt out before the end of the 30-day notification period, no payroll deductions will be made on your behalf and your account will not be activated. You can rejoin the program and begin contributing to your account at any time through the same methods.
Signing up for CalSavers is easy if you're self-employed or work for an employer that doesn’t facilitate the program. You’ll be asked to provide the following to set up your account:
You can then set up automatic contributions or make the initial minimum contribution and select your investment options.
If you’re not sure how much to contribute, check out our calculator and education content to figure out what’s right for you.
THE CALSAVERS PROGRAM, COMBINED WITH CALIFORNIA’S NEW $15 MINIMUM WAGE LAW, CAN BOOST YOUNG LOW-INCOME WORKERS’ RETIREMENT INCOME BY 50%
UC Berkeley Labor Center, California's $15 Minimum Wage and Secure Choice Retirement Savings Program Can Boost Young Low-Income Workers' Retirement Incomes by 50%, (December 2017)
After you opt out, you will receive a notification confirming your decision. At any time in the future, you can opt in to the Program.
CalSavers charges fees to pay for program operations and the underlying investments. Effective May 1, 2026, the fees all savers pay will decrease. This can help you save more as you invest for the long term. Additionally, paper delivery fees will increase, but you can avoid these fees entirely and save $10 every year when you choose e-delivery for statements and confirms. It’s fast, secure, better for the environment, and saves you money!
All fees are automatically deducted. Savers will not be billed.
You may also be charged Activity-Based Fees for options like choosing to receive paper statements. Fees are automatically deducted from your account balance, so you will not receive a bill.
See below for details about the changes to Administrative and Activity-Based Fees.
| Fee | Fee effective May 1, 2026 | Fee prior to May 1, 2026 |
|---|---|---|
| Fixed Account Fee | $3.50 per quarter ($14 annually) | $4.25 per quarter ($17.00 annually) |
| Total Annualized Asset-Based Fee (Refer to the Program Disclosure Booklet for more information) | Ranges from 0.225% to 0.39% of an account balance, depending on the investment choice(s). This means you pay between $0.23 and $0.39 per year for every $100 in an account1 | Ranges from 0.325% to 0.49% of an account balance, depending on the investment choice(s).This means saver will pay between $0.33 and $0.49 per year for every $100 in an account1 |
1 The Total Annualized Asset-Based Fee (0.225%-0.39%) includes the Underlying Investment Fund Fee (0.0255%-0.19%), the State Fee (005%), and the Program Administration Fee (0.15%).
The Fixed Account Fee will not be assessed until at least 90 days after your initial contribution and will not be assessed for the quarter in which the first contribution was made. For example, if you initially funded your account between April 1 and June 30 (the second quarter of the year), the first Fixed Account Fee will be assessed at the end of the third quarter, September 30.
If you initiate a full withdrawal and have had a funded account for at least 90 days, all applicable fees, including the Fixed Account Fee, will be assessed before funds are distributed. If your account balance is $15 or less at the time you initiate a full withdrawal, the Fixed Account Fee will be waived.
If your account does not have a large enough balance to cover the Fixed Account Fee assessed at the end of the quarter, the remaining amount in the account will be assessed and the account balance will be $0.
| Fee | New fee effective May 1, 2026 | Fee prior to May 1, 2026 |
|---|---|---|
| Electronic Delivery Fee (for electronic delivery of account statements, disclosures, and confirmations) | $0 (no change) | $0 |
| Paper Delivery Fee (for paper delivery of account statements, disclosures, and confirmations) | $2.50 per quarter ($10 annually) | $1.25 per quarter. ($5.00 annually) |
| Paper Check Fee (for delivery of funds by paper check) | $5 per check (no change) | $5 per check |
Go Paperless to Save Fees
Log in to your account and set your account document delivery preference to electronic delivery for both Account Statements and Transaction & Profile Confirmations to avoid the Paper Delivery Fee. Please note, you will not be charged for paper delivery of IRS Tax Documents.
Establish an electronic bank transfer (ACH) before you initiate a withdrawal or distribution to avoid Paper Check Fees. After you set up electronic bank transfer, you can also easily deposit additional funds into your account to invest for retirement.
How these fees are assessed
Paper Delivery Fee
Paper Check Fee