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Learn more about the Secure Choice Retirement Savings Act
Secure Choice Retirement Savings Act Signed by Governor Jerry Brown
One of the nation’s first state-sponsored, auto-enrolled retirement savings programs for the public. California Governor Jerry Brown signed Senate Bill 1234. This bill is set to impact as many as 7 million employees.
California Secure Choice Retirement Savings Program is “a completely voluntary workplace retirement savings plan that enables participation through automatic employee payroll contributions into a personal retirement account managed by the California Choice Retirement Savings Investment Board”. Employee contributions will be defaulted at 3% of their salary with the option to opt out or change contributions at any time.