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Retirement designed with you in mind

When you save with CalSavers, you’ll put your money to work for you:

  • A portion of your pay is automatically contributed to an Individual Retirement Account that belongs to you. If you don't work for a participating employer, but want to save through CalSavers, you can set up recurring contributions.
  • You can do nothing and let the standard account options kick in or customize your account by setting your own contribution rate and investments. Also, we’ve added an automatic increase feature that will increase your savings rate by 1% each year until your savings rate reaches 8%, unless you choose otherwise.
  • Your account is portable: You keep it if you leave your job.
  • You have access to your savings at any time, and the savings in your account is always yours.
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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:

  • You are employed in the state of California.
  • You are 18 or older.
  • You have a Social Security Number or an Individual Taxpayer Identification Number.

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. Learn more about contribution limits. Traditional (pre-tax) IRAs will be available by the end of 2019 allowing for those with higher incomes to participate.

Did your employer start facilitating CalSavers?

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.

Do nothing

Customize it

Opt out

Do nothing

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:

  • 5% of your gross income (wages before taxes and other deductions) earned with your facilitating employer
  • The first $1,000 of contributions will be invested into the CalSavers Money Market Fund and any subsequent contributions will be invested in a Target Retirement Fund that automatically resets the mix of stocks and bonds based on your age.

Customize it

You’ll need the following information to access your account and customize it.

  • CalSavers access code from your notification
  • Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
  • Date of birth
  • ZIP code

Once you have finalized your account by verifying your contact information and signed all account documents, you are able to:

  • Designate beneficiaries (who will inherit your Roth IRA in the event of your passing)
  • Manage your personal information
  • Change your contribution rate
  • Change your investment choices
  • Make a withdrawal

Opt out

You can opt out of participating in CalSavers at any time online, by phone, or mailing in a 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.

Are you ready to start saving on your own?

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:

  • Social Security number
  • Date of birth
  • Address

You can then set up automatic contributions or make the initial minimum contribution and select your investment options.

I’m not sure how much to save 

If you’re not sure how much to contribute, check out our calculator and education content to figure out what’s right for you.



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)

Opting out questions

I originally enrolled, but now I want out

You can choose to stop participating at any time, which will stop contributions into your account. You can opt out online, by calling the Client Service Team, or by mailing in a form. You can leave the money in your account, transfer or roll it over to another Roth IRA, or request a distribution. Keep in mind, requesting a distribution may result in taxes and penalties.

I originally opted out, but now I want to enroll

You can opt back in at any time online, by phone, or by mailing in a form.

What happens after I opt-out?

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.

California law requires that CalSavers conduct an Open Enrollment Period once every two years during which eligible employees that previously opted out of the Program shall be re-invited to participate under automatic enrollment and must opt out again if they still do not wish to participate in the Program.

Understanding the costs

A small fee will be applied to your account. This fee is necessary to cover the costs of the administration of the program and operating expenses. This fee is collected in the form of an annual asset-based fee of 0.825% to 0.95%, depending on your investment choice. This means you will pay between 83 cents and 95 cents per year for every $100 in your account, depending on your investment choice. The CalSavers Program is pleased to announce that fee rates for all CalSavers participants will drop when the Program as a whole hits growth milestones.

Program Administrator Fee - State
Program Administrator Fee - Administrator
Underlying Fund Fee
Total Annualized Asset-Based Fee
The fee covers all administrative costs:
  • Maintaining your account
  • Oversight of the program’s investments
  • Providing customer service
  • Keeping records
  • Online and phone services
  • Operating expenses of the underlying investment funds in which the investment options are invested