CalSavers Retirement Savings Program Information
CalSavers Retirement Savings Program
As you may have heard, the State of California has enacted a program to help employees save for retirement, the CalSavers Retirement Savings Program. All companies in the State of California are now required to offer a retirement plan, either one of their choice or the CalSavers Retirement Savings Program. The deadline for our company is June 30, 2021. As we are required to do, Camp Sunshine, Inc. (DBA Sunshine Day Camp) is now registered with CalSavers.
What Does This Mean For You?
Through the CalSavers Retirement Savings Program, you will be able to contribute a portion of your salary into an Individual Retirement Account (IRA).
Within the coming days, you will receive a communication informing you of your opportunity to begin participating in the program. The communication will be sent to the email or mailing address you have on file with us from a company called Ascensus (e-mail: clientservices@calsavers.com), which is working with the State of California to administer the program.
Enrollment IS Automatic, UNLESS You Opt Out!
The State of California has made the program completely voluntary for you, but it is set up as automatic enrollment. So, if you choose to not participate, you need to follow the instructions on the information you will receive from CalSavers to opt-out.
If you have any questions regarding the program, you can go to www.calsavers.com or call 855-650-6918.
Here is some additional information to help you learn more about the CalSavers Retirement Savings Program
CalSavers is NOT a Company Sponsored Plan
Camp Sunshine, Inc. does not sponsor or maintain CalSavers. Camp Sunshine, Inc.’s involvement in CalSavers is limited to processing your payroll withholding contributions to the program and remitting them to CalSavers. We will not provide any additional benefit and do not promise any particular investment return on your savings under CalSavers. In accordance with federal government regulations, Camp Sunshine, Inc. does not endorse CalSavers. If you would like tax, investment, or financial advice, you should contact a financial advisor. Camp Sunshine, Inc., or any employee acting on behalf of Camp Sunshine, Inc., is not able to provide financial advice.
