9/30/2020 8/31/2020 Change % Change 1 Employers Registered 3,500 2,249 1,251 55.6% 2 Employers That Uploaded Roster 2,074 1,526 548 35.9% 3 Employers That Started Payroll Deductions 855 736 119 16.2% 4 Exempted Employers 4,447 3,047 1,400 45.9% 5 Funded Accounts 27,544 22,093 5,451 24.7% 6 Accounts Enrolled, 1st Contribution Pending 51,346 33,499 17,847 53.3% 7 Payroll Contributing Accounts 29,234 23,447 5,787 24.7% 8 Enrollment Pending Accounts (within opt-out window) 70,189 34,388 35,801 104.1% 9 Multiple Employer Accounts 3,407 1,281 2,126 166.0% 10 Effective Opt-Out Rate 34.54% 29.92% 4.62% 15.4% 11 Total Assets $11,026,726.47 $8,746,853.59 $2,279,872.88 26.1% 12 Average Funded Account Balance $400.33 $395.91 $4.42 1.1% 13 Total Contributions Amount $11,839,210.34 $9,308,080.55 $2,531,129.79 27.2% 14 Monthly Contributions $2,531,129.79 $1,919,382.96 $611,746.83 31.9% 15 Average Monthly Contribution Amount $126.48 $121.87 $4.62 3.8% 16 Median Monthly Contribution Amount $97.55 $97.20 $0.34 0.4% 17 Average Contribution Rate 5.03% 5.03% 0.00% 0.0% 18 Amount of Withdrawals $955,142.80 $758,578.35 $196,564.45 25.9% 19 Accounts with a Full Withdrawal 2,513 2,004 509 25.4% 20 Accounts with a Partial Withdrawal 143 119 24 20.2% 21 Accounts w/ Full W/d as % of Contributing Accounts 8.60% 8.55% 0.05% 0.6% CalSavers Retirement Savings Program Participation & Funding Snapshot Data as of 9/30/20 Notes: *Historic participation reports are available at: https://www.treasurer.ca.gov/calsavers/reports.asp *The Program opened for all eligible employers on July 1, 2019, following a limited seven-month pilot. The first round of notices to employers were sent in October 2019. The deadlines for employer compliance and the estimated shares of total volume of employers and employees are summarized in the graphic below. *On April 15, 2020, the Board voted to delay the first deadline to September 30, 2020 due to the COVID-19 emergency. Direct notices to employers and most advertisements were paused for Quarter 2. Employers Participants Funding 1
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9/30/2020 8/31/2020 Change % Change1 Employers Registered 3,500 2,249 1,251 55.6%
2 Employers That Uploaded Roster 2,074 1,526 548 35.9%
3 Employers That Started Payroll Deductions 855 736 119 16.2%
4 Exempted Employers 4,447 3,047 1,400 45.9%
5 Funded Accounts 27,544 22,093 5,451 24.7%
6 Accounts Enrolled, 1st Contribution Pending 51,346 33,499 17,847 53.3%
7 Payroll Contributing Accounts 29,234 23,447 5,787 24.7%
8 Enrollment Pending Accounts (within opt-out window) 70,189 34,388 35,801 104.1%
9 Multiple Employer Accounts 3,407 1,281 2,126 166.0%
10 Effective Opt-Out Rate 34.54% 29.92% 4.62% 15.4%
11 Total Assets $11,026,726.47 $8,746,853.59 $2,279,872.88 26.1%
12 Average Funded Account Balance $400.33 $395.91 $4.42 1.1%
13 Total Contributions Amount $11,839,210.34 $9,308,080.55 $2,531,129.79 27.2%
14 Monthly Contributions $2,531,129.79 $1,919,382.96 $611,746.83 31.9%
15 Average Monthly Contribution Amount $126.48 $121.87 $4.62 3.8%
16 Median Monthly Contribution Amount $97.55 $97.20 $0.34 0.4%
17 Average Contribution Rate 5.03% 5.03% 0.00% 0.0%
18 Amount of Withdrawals $955,142.80 $758,578.35 $196,564.45 25.9%
19 Accounts with a Full Withdrawal 2,513 2,004 509 25.4%
20 Accounts with a Partial Withdrawal 143 119 24 20.2%
21 Accounts w/ Full W/d as % of Contributing Accounts 8.60% 8.55% 0.05% 0.6%
CalSavers Retirement Savings ProgramParticipation & Funding Snapshot
Data as of 9/30/20
Notes: *Historic participation reports are available at: https://www.treasurer.ca.gov/calsavers/reports.asp*The Program opened for all eligible employers on July 1, 2019, following a limited seven-month pilot. The first round ofnotices to employers were sent in October 2019. The deadlines for employer compliance and the estimated shares of totalvolume of employers and employees are summarized in the graphic below.*On April 15, 2020, the Board voted to delay the first deadline to September 30, 2020 due to the COVID-19 emergency.Direct notices to employers and most advertisements were paused for Quarter 2.
Employers
Participants
Funding
1
27,544 Funded Accounts
0
5,000
10,000
15,000
20,000
25,000
30,000
0
5,000
10,000
15,000
20,000
25,000
30,000
Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
Chart 1: Funded AccountsAs of 9/30/20
On April 15, 2020, the Board voted to delay the first deadline to September 30, 2020 due to the COVID-19 emergency. Direct notices to employers and most advertisements were paused for Quarter 2.
Pilot Phase
27,544 Funded Accounts (35%)
78,890 Accounts
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
0
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20,000
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70,000
80,000
90,000
Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
Chart 2: Enrolled Accounts: Total v. FundedAs of 9/30/20
Total Accounts Funded Accounts
Pilot Phase
2
Chart 3: Status of All Registered EmployersAs of 9/30/20
3,500 Registered
2,074 Uploaded Roster (59%)
855 Started Deductions (24%)
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
Total Employers Employers that uploaded roster Employers that started payroll deductions
Pilot Phase
Chart 4: Total Effective Opt-Out RateAs of 9/30/20
34.54%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0%
10%
20%
30%
40%
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100%
Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
Pilot Phase
3
Chart 5: Average Contribution RateAs of 9/30/20
5.03%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
First Annual Automatic Escalation
of Default Contribution Rate
Pilot Phase
Chart 6: Monthly Contributions Per SaverAs of 9/30/20
$126.48
$97.55
$0
$20
$40
$60
$80
$100
$120
$140
$160
$0
$20
$40
$60
$80
$100
$120
$140
$160
Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
Average monthly contribution amount (last 30 days) Median monthly contribution amount (last 30 days)
Pilot Phase
4
Chart 7: Total AssetsAs of 9/30/20
$11.03 Million
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
Nov 18 Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
Mill
ions
Pilot Phase
Chart 8: Distribution of Accounts by BalanceAs of 9/30/20
21,361 (78.46%)
3,681 (12.92%)
1,696 (5.60%)
444 (1.64%) 252 (0.95%) 101 (0.37%) 11 (0.05%)0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
17,000
18,000
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20,000
21,000
22,000
23,000
0
1,000
2,000
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4,000
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8,000
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11,000
12,000
13,000
14,000
15,000
16,000
17,000
18,000
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20,000
21,000
22,000
23,000
$0.01 - $500 $500.01 - $1,000 $1,000.01 - $2,000 $2,000.01 - $3,000 $3,000.01 - $5,000 $5,000.01 - $10,000 $10,000.01+
5
8.60%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
Nov 18Dec 18 Jan 19 Feb 19Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19Dec 19 Jan 20 Feb 20Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
11%
12%
13%
14%
15%
Chart 9: Accounts w/a Full Withdrawal as % of Payroll Contributing AccountsAs of 9/30/20
Pilot Phase
6
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