California Secure Choice
Making Workplace Retirement Savings
Possible for Millions of Californians
- Senate Bill (SB) 1234 Printable Fact Sheet
- Follow SB 1234
- California Secure Choice Retirement Savings Investment Board Recommendations
- Overture Financial Final Report
- Legal Analysis of Overture Financial Final Report
- Public Comment on Overture Report
- What Supporters Are Saying About Secure Choice
- Retirement Facts and Resources
- Retirement Basics
- Meeting Agendas, Reports, Presentations, and Minutes
- Sign Up to Receive Secure Choice Information
Are Workers of Color, Almost Half of Which Are Latinos
Work for Small Businesses With Less Than 100 Employees
In California Today
Californians Work for
Employers Who Do Not
Offer a Retirement Plan
Secure Choice is Under Construction
The most ambitious push to expand retirement security since the passage of Social Security in the 1930s became a reality on September 29, 2016 when Governor Jerry Brown signed Senate Bill 1234.
This new law will go into effect on Jan. 1, 2017 and will authorize the Secure Choice Board, chaired by Treasurer John Chiang, to begin the development and build-out of the retirement program. Once Secure Choice opens its doors it will be phased in: eligible employers with more than 100 employees will need to participate within 12 months after the program is open for enrollment; employers with more than 50 employees will be mandated to participate within 24 months after the program is open for enrollment; and within 36 months all other eligible employers will be required to participate.
To promote greater retirement savings for California’s private-sector workers who currently lack access to employer-sponsored retirement plans by providing access to a voluntary, low-risk, low-cost, portable retirement savings plan that enables direct payroll contributions into a personal Individual Retirement Account (IRA) managed by a private-sector financial firm overseen by the Secure Choice Board.