{"id":71535,"date":"2025-03-24T14:04:34","date_gmt":"2025-03-24T21:04:34","guid":{"rendered":"https:\/\/lapost.us\/?p=71535"},"modified":"2025-03-24T14:04:34","modified_gmt":"2025-03-24T21:04:34","slug":"state-treasurer-fiona-ma-announces-lower-saver-fees-as-calsavers-surpasses-550000-funded-accounts","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=71535","title":{"rendered":"State Treasurer Fiona Ma Announces Lower Saver Fees as CalSavers Surpasses 550,000 Funded Accounts"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>CalSavers participants save 5.7% after surpassing 550,000 accounts funded<\/strong><\/p>\n<p><strong>SACRAMENTO, CA (March 24, 2025 )<\/strong>\u2013\u00a0California State Treasurer Fiona Ma today announced that the\u00a0<a href=\"https:\/\/t.e2ma.net\/click\/futq1j\/bbsde93\/7j4xryb\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/t.e2ma.net\/click\/futq1j\/bbsde93\/7j4xryb&amp;source=gmail&amp;ust=1742930318317000&amp;usg=AOvVaw06qPypfSwjowPH3fl17Dp6\">CalSavers Retirement Savings Program<\/a>\u00a0has surpassed 550,000 funded saver accounts, marking a major milestone in the state\u2019s efforts to expand retirement savings access for workers.<\/p>\n<p>&nbsp;<\/p>\n<p>As a direct result of this achievement, CalSavers participants will see a fee reduction, with the quarterly account fee decreasing from $4.50 to $4.25\u2014an annual reduction from $18 to $17. This ensures that more of workers\u2019 hard-earned savings remain in their accounts, growing over time through compound interest and prudent investment strategies.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cBy reducing fees, we\u2019re supporting greater savings for participants and reinforcing the critical need of this program,\u201d said Treasurer Fiona Ma, who chairs the CalSavers Retirement Savings Board. \u201cThis is another milestone in our mission to provide millions of hardworking Californians with a secure and reliable way to save for their future.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>CalSavers, administered by the California State Treasurer\u2019s Office, is a state-facilitated retirement savings program available to California workers whose employers do not offer a retirement plan, and to individuals who wish to save additionally. Savers contribute a portion of each paycheck to an Individual Retirement Account (IRA) that belongs to them, no matter where they work, with the flexibility to decide how much to contribute and where to invest their money.<\/p>\n<p>&nbsp;<\/p>\n<p>Employers with one or more employees are required to facilitate CalSavers if they do not offer a qualified retirement plan. The program is designed to be easy for employers to implement, with no employer fees, no required employer contributions, and no fiduciary responsibility. Employers must register their company by mandated deadlines to comply with state law.<\/p>\n<p>&nbsp;<\/p>\n<p>The latest milestone highlights the growing success of CalSavers and its role in addressing the state\u2019s retirement savings gap. It also underscores California\u2019s leadership in state-facilitated retirement savings programs, serving as a model for other states looking to implement similar initiatives.<\/p>\n<p>&nbsp;<\/p>\n<p>For more information about CalSavers or to enroll, visit\u00a0<a href=\"https:\/\/t.e2ma.net\/click\/futq1j\/bbsde93\/nc5xryb\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/t.e2ma.net\/click\/futq1j\/bbsde93\/nc5xryb&amp;source=gmail&amp;ust=1742930318317000&amp;usg=AOvVaw0qHMJgw-OT7Y_e4FOze_dd\">www.CalSavers.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CalSavers participants save 5.7% after surpassing&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-71535","post","type-post","status-publish","format-standard","hentry","category-ca-local"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/71535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71535"}],"version-history":[{"count":1,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/71535\/revisions"}],"predecessor-version":[{"id":71536,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/71535\/revisions\/71536"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}