Sacramento – On Monday, July 1, State Treasurer Fiona Ma and former Senator Kevin de León will launch CalSavers, a pioneering state retirement savings program that will give access to more than 7 million working Californians who currently lack a workplace plan. De León, the former State Senate President Pro Tem, authored SB 1234 that created CalSavers. Members of the governing board and stakeholder leaders will also be present.
SB 1234 requires that all employers with five or more employees who don’t already offer a retirement plan to either begin offering a qualified plan from the private market or register for CalSavers in accordance with a series of staggered deadlines that rolls out over the next three years. Following a successful pilot program launched in November 2018, Monday is the first day that an estimated 250,000 employers can begin signing up.
WHO: Treasurer Fiona Ma, former Senator Kevin de León, the first CalSavers employers—Lorenzo and Yolanda Harris—owners of Janico Building Services, CalSavers Executive Director Katie Selenski, CalSavers Board Members, and other leaders.
DATE: July 1, 2019
TIME: 10 a.m.
LOCATION: State Treasurer’s Office, Traffic Circle, 915 Capitol Mall, Sacramento, CA 95814
MORE INFORMATION: To learn more about CalSavers visit: https://www.calsavers.com/
WATCH THE CALSAVERS LAUNCH LIVE HERE: https://www.facebook.com/CaliforniaSTO/
FOLLOW ALONG ON TWITTER HERE: @CalSavers
Fiona Ma is California’s 34th State Treasurer. She was elected on November 6, 2018 with more votes (7,825,587) than any other candidate for treasurer in the state’s history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Her office processes more than $2 trillion in payments within a typical year. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio of more than $96.9 billion, approximately $20 billion of which are local government funds. She serves as agent for sale for all State bonds, and is trustee on over $95.3 billion of outstanding debt.