The California State Treasurer’s Office is home to three programs that can make a great difference in the financial well-being of most Californians. One program helps families save for college. Another helps private sector workers save for retirement. And a third enables people will disabilities to save money without worrying about running afoul of federal rules that cap disability income.
Want to know how you can participate? Read on!
CalSavers: Because your money is your future.
Are you prepared for retirement? If you’re worried about you or your family’s retirement outlook, you are not alone.
Half of working Californians are on track to face serious financial hardship in retirement. With little to nothing saved, millions of Californians and many more nationwide will face the choice of retiring into poverty or never retiring at all.
While there are many reasons people don’t save for retirement, those who do save tend to have one thing in common: access to a workplace retirement savings vehicle.
CalSavers is here to help provide working Californians with that access. By ensuring nearly all working Californians have access to a retirement savings vehicle at their job, CalSavers can help close the gap in retirement security.
Employers from all over the state have already joined the program – large employers, tiny mom and pop shops, and industries ranging from restaurants, to tech, to non-profits are already a part of the program. Beginning in mid-2019, all eligible employers can join and help their employees save.
Here’s how it works: Employers that don’t already sponsor a retirement plan will register for CalSavers and their employees will be automatically enrolled unless the worker chooses to opt out. Participating employees contribute to their CalSavers account through the ease of regular payroll contributions.
CalSavers is inspired by some of the leading minds in finance and human behavior. By harnessing the power of habit, CalSavers makes it easy to start saving. Because investing can be overwhelming, CalSavers uses a simple investment menu and standard savings options based on a saver’s age or retirement goal. While we all know how important it is to save more for retirement, the day-to-day grind can often get in the way of planning for the future. That’s why CalSavers offers automatic escalation, where savers can set automatic increases in how much they save.
Small steps can often lead to giant leaps forward. CalSavers will help millions of hardworking Californians take that first step towards achieving their retirement dreams.
Learn how you can be a part of this groundbreaking initiative by visiting Visit Coveredca. Page If you would like more info on Retirement Plans call 909-656-4885
EVENT: San Gabriel Valley Small Business Seminar
Mark the Date!
April 5, 2019, from 9:30 AM to 12:30 PM
(Check-in: 9 AM)
State Treasurer Fiona Ma invites you to attend a FREE small business seminar to learn about free resources that help businesses grow.
CalSavers Retirement Savings Program for private sector workers, GoBiz, FTB, the Small Business Majority and CalCap.
Rowland Unified Board Room
1830 Nogales St., Rowland Heights, CA 91748
http://bit.ly/svgsbs2019 or call (916) 653-2995