Employers should refer all questions about the Program to CalSavers. Employers do not provide financial advice and employees should not contact an employer for financial advice. However, not everyone is eligible to contribute to a Roth IRA and savers should consult a tax or financial advisor if they have questions related to taxes or investments. Contributing to a CalSavers IRA through payroll deduction may offer some tax benefits and consequences. IRAs are not exclusive to CalSavers and can be obtained outside of the Program and contributed to outside of payroll deduction. CDCR’s brief review and approval of this vendor was strictly limited to minimum security requirements and general business intent. Employer facilitation of CalSavers should not be considered an endorsement or recommendation by a participating employer, IRAs, or the investment options offered through CalSavers. The California Department of Corrections and Rehabilitation (CDCR) has approved this independent vendor to sell merchandise to inmates and the public. Saving through an IRA may not be appropriate for all individuals. If a saver opts out they can later opt back into CalSavers. Savers may opt out at any time or reduce or increase the amount of payroll contributions. Investments in CalSavers are not guaranteed or insured by the Board, the State of California, the Federal Deposit Insurance Corporation, or any other organization.ĬalSavers is a completely voluntary retirement program. Our students graduate with less (or no) debt and more job-ready skills, empowered to thrive. Account balances in CalSavers will vary with market conditions. We transform individual lives and drive Californias economy. For more information on CalSavers’ investment options go to.

The period of time during which you can file a lawsuit varies depending on the type of legal claim. In general, once the statute of limitations on a case runs out, the legal claim is not valid any longer. Most lawsuits MUST be filed within a certain amount of time. Employers are not permitted to endorse the Program or encourage or advise employees on whether to participate, how much (if any) to contribute or provide investment help.ĬalSavers offers investment options selected by the Board. A statute of limitations is the deadline for filing a lawsuit. CalSavers is not sponsored by the employer, and therefore the employer is not responsible for the Program or liable as a Program sponsor.

Participants saving through CalSavers beneficially own and have control over their IRAs, as provided in the Program Disclosure Booklet available at. ACSR and its affiliates are responsible for day-to-day program operations. Ascensus College Savings Recordkeeping Services, LLC (“ACSR”) is the program administrator. The CalSavers Retirement Savings Program (“CalSavers” or the “Program”) is an automatic enrollment payroll deduction IRA overseen by the CalSavers Retirement Savings Board (“Board”).