Invest in You Summary Plan Description Savings Plus Savings Plus is the name of the State of California s 401(k) and 457 Plans available as a benefit to most State employees. Savings Plus does not administer a 403(b) Plan. * We re a defined contribution plan, used to enhance your retirement savings. Build your account your way. You pick the amount to contribute, the investments, and the tax advantage (before-tax or designated Roth). We ll do the rest. Once you enroll, your contributions automatically transfer from your pay to your Savings Plus account and are invested according to your preference. Participation Participation in Savings Plus is voluntary. You elect the amount to contribute, and the funds are automatically deducted from your pay and deposited into your Savings Plus account. When you participate in Savings Plus, you build your retirement savings based on the amount you contribute plus earnings. There are no employer matching contributions. Even if you expect to receive a pension from CalPERS, and/or Social Security, you may still need more income to meet your retirement needs. Savings Plus can help you fill your retirement income gap. Qualified Employees Eligibility to participate in Savings Plus is based on your employment status and State pension participation. To be eligible to make contributions, you must be employed by one of the following: The State of California California State University (CSU) And, you must also be a participant in one of the following State retirement programs: CalPERS Legislators' Retirement System (LRS) Judges' Retirement System (JRS)
You're also eligible if you're in the Alternate Retirement Program (ARP) or are employed as a "rehired annuitant." The following employees are not eligible to participate in Savings Plus: Employees in the Part-time, Seasonal, and Temporary Employee Retirement Program (PST) Employees of the University of California (UC) Leased employees Independent contractors * Some State employees in the education field may be enrolled in a 403(b) Plan. This publication references a 403(b) Plan as it relates to those employees. Check with your personnel office or campus benefits office for more information about a 403(b) Plan. 401(k) Plan Contributions You may contribute to your Savings Plus account using (1) payroll deductions, (2) rollover contributions, and (3) unused leave credits. 1. Payroll Deductions These are contributions you elect to have deducted from your pay as a flat dollar amount. Contributions may be made with either before-tax or designated Roth dollars. The 401(k) Plan annual contribution limit includes any amount you contribute to the following plans within a tax year: 401(k) Plan, both before-tax and designated Roth 403(b) The limit does not include the amount you contribute to the 457 Plan or any assets you roll into the Plan. Before-Tax Contributions By making contributions on a before-tax basis, you delay income taxes on the amounts you contribute and the earnings on those amounts. Designated Roth Contributions By making contributions on an after-tax basis, you pay applicable income taxes up front. All earnings are tax-free upon taking a Qualified Distribution. Age-Based Contribution Limits Your 401(k) Plan contribution limit automatically increases in the year you reach age 50. This allows participants age 50 or older to contribute more in the years leading
up to retirement. No extra steps or approvals are necessary for age-based limits. Simply increase your contribution amount. Uniformed Services Leave Makeup and HEART Act of 2008 Under the Uniformed Services Employment and Reemployment Rights Act (USERRA) of 1994 and the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008, State employees who leave a civilian job for military/uniformed service and are re-employed are entitled to make up contributions to the Plan that were missed as a result of their military/uniformed service. Certain limits and restrictions apply. Go to the Savings Plus website or call the Savings Plus Service Center for more information. 2. Rollover Contributions You may consolidate your retirement assets by rolling qualified employer plans and traditional IRAs into your Savings Plus account while you re still employed by the State and after you separate from employment. Post-separation rollovers require an existing Savings Plus account with a positive balance on deposit. Before-Tax Rollovers If you have a rollover IRA or a balance from a previous employer in another beforetax plan, such as a 401(k) plan, a 457 plan, or a 403(b) plan, you may transfer this amount into the before-tax portion of your Savings Plus 401(k) Plan account even if you re not contributing to the Plan. Designated Roth Rollovers If you have a balance from a previous employer in another plan that allows after-tax Roth contributions, you may transfer these amounts into your Savings Plus 401(k) Plan account. You may roll over contributions to the Plan even if you don t plan to contribute. Rollovers from a Roth IRA are not permitted into Savings Plus. If you roll your previous employer s Roth 401(k) plan into the Savings Plus 401(k) Plan, your future designated Roth distributions from the Savings Plus 401(k) Plan are tax-free as long as (a) your distribution is at least five years after your first contribution, starting with your previous plan, and (b) you re age 59½ or older when you request your distribution. 3. Transfer Unused Leave Credits to Savings Plus When you leave employment, you may transfer your unused leave credits to your Savings Plus account, up to the annual limit minus your current year contributions.
Contributing unused leave credits to Savings Plus requires a minimum of 30 days advance notice to your employer and enrollment in Savings Plus at least one pay period prior to separation. Go to the Savings Plus website or call the Savings Plus Service Center for more information. 401(k) Plan Withdrawals While Employed Generally, you may not withdraw funds from the 401(k) Plan while you re still employed unless you re age 59½ or older. However, there are certain exceptions, as discussed in this document. Hardship Withdrawals You may apply for a hardship withdrawal if your hardship qualifies as an immediate and significant financial hardship under predefined IRS circumstances. You re required to provide supporting documentation to Savings Plus. Your hardship withdrawal may not exceed the amount of the immediate and heavy financial need. You may include the tax withholding required as part of the distribution taken for the immediate and heavy financial need. You must first exhaust all withdrawal options and nontaxable loans available to you in all of your Savings Plus accounts. The amount you may withdraw is limited to the amount you ve actually deferred to your 401(k) Plan account and not any of the interest or other gains your money has earned. The entire withdrawal, excluding any designated Roth contributions, is taxed as ordinary income. If you re younger than age 59½, your 401(k) Plan account assets may be subject to a 10% early withdrawal penalty. Once you take the hardship withdrawal, you re prohibited from contributing to the Savings Plus 401(k) and 457 Plans for six months. If the amount you want to withdraw includes money invested in your Self-Directed Brokerage Account (SDBA), you ll have to sell some or all of your brokerage investments and transfer the appropriate amount back to the core investment funds in your Savings Plus account prior to requesting the withdrawal. Distributions After Age 59½ When you reach age 59½, you have full access to your account. You may request a distribution without penalty regardless of whether you re still employed by the State. Before-Tax 401(k) Plan: Distributions are subject to applicable income taxes, but not the 10% early withdrawal penalty.
Designated Roth 401(k) Plan: Distributions are tax-free income provided they meet Qualified Distribution requirements. A Qualified Distribution is a distribution that is both: 1. Made after a five-year period of participation defined as beginning with the first day of the first calendar year in which you made a designated Roth contribution to a designated Roth account established for you and ending when five (5) consecutive taxable years have been completed; and 2. Made on or after the date you attain age 59½, made to your beneficiary or your estate on or after death, or attributable to being disabled. The age 55 exception does not apply to a designated Roth distribution. Qualified Reservist and Uniformed Service Withdrawal-401(k) Plan If you re on military leave for more than 30 days, you may take a before-tax or a designated Roth withdrawal from your 401(k) Plan accounts. If you re younger than age 59½, your designated Roth distribution may be subject to a 10% early withdrawal penalty. Additionally, earnings on designated Roth distributions are subject to applicable taxes if the distributions are not Qualified Distributions. Rollover Withdrawal-401(k) Plan If you have rolled money into the 401(k) Plan, either before-tax or designated Roth contributions, you may take a withdrawal of your rollover assets. 401(k) Distributions After Separation 401(k) Plan distribution rules are based on your employment and your age. Even if you re no longer employed by the State, you still have to meet the age requirements to avoid an early withdrawal penalty. Before-Tax 401(k) money: The early withdrawal tax penalty doesn t apply to your before-tax balance if you: Separate or retire during or after the year you reach age 55; Retire due to disability; Require the payment for medical expenses; or Request lifetime distribution payments for five or more years or until you reach age 59½ (whichever is later). Designated Roth 401(k) money: Distributions are tax-free income provided they meet Qualified Distribution requirements. Refer to page 2 for the definition of Qualified Distributions. Distribution Start Date
You don t have to take a distribution from your account upon separation from State employment. You may retain your retirement assets in your Savings Plus account(s) for as long as you d like. However, the IRS requires you to begin taking distributions when you turn age 70½, unless you re still employed by the State. This is known as a Required Minimum Distribution (RMD). Note: You may delay your first RMD until April 1 of the calendar year following the year you turn age 70½. However, you re still required to take an additional distribution that year to fulfill your RMD for that year. Direct Payment or Rollover Your choices are: 1. Direct payment: You may choose to have all or part of your Savings Plus account paid to you directly. If you are younger than age 59½, the before-tax portion of your 401(k) Plan account assets may be subject to a 10% early withdrawal penalty unless you re at least age 55 at the time you retire. Additionally, earnings on designated Roth distributions are subject to applicable taxes if the distributions are not Qualified Distributions. 2. Direct rollover to an eligible retirement plan: Your balance may be eligible for a rollover to another employer plan or to an IRA. Payment Methods You decide how you would like your account distributed. 1. Fixed installment: Monthly or annual distributions for one or more years at a specific dollar amount until your account is depleted. 2. Calculated installment: Monthly or annual distributions calculated by dividing your account balance by the number of payments you want to receive. 3. Partial distribution: An on-demand distribution in addition to your regularly scheduled periodic payments. Partial distributions reduce the amount of your future fixed-period payments or the number of remaining fixed-amount payments. 4. RMD payments: You may elect to receive your RMD payments either monthly or annually. If you don t make an election, your RMD is automatically issued in November. Taxes Before-Tax 401(k) money: Most direct payments to you are subject to mandatory federal tax withholding, as well as applicable State taxes. If you are younger than age 59½, a 10% early withdrawal penalty may apply. Exceptions to the early withdrawal
penalty include the following: if you are at least age 55 at the time you separate or if you receive periodic payments based on your life expectancy. Designated Roth 401(k) money: Payments are tax-free provided they are Qualified Distributions. See Designated Roth 401(k) Plan under the Distributions After Age 59½ section. 457 Plan Contributions You may contribute to your Savings Plus account using (1) payroll deductions, (2) rollover contributions, or (3) unused leave credits. 1. Payroll Deductions These are contributions you elect to have deducted from your pay as a flat dollar amount. Contributions may be made with either before-tax or designated Roth dollars. The 457 Plan annual contribution limit includes any amount you contribute to the following Plans within a tax year: 457 Plan, both before-tax and designated Roth Part-time, Seasonal, and Temporary Employee Retirement Program (PST) The limit does not include the amount you contribute to a 401(k) Plan, a 403(b) Plan, or any assets rolled into the Plan. Before-Tax Contributions By making contributions on a before-tax basis, you delay income taxes on the amounts you contribute and the earnings on those amounts. Designated Roth Contributions By making designated Roth contributions, you pay applicable income taxes up front. All earnings are tax-free income upon taking a Qualified Distribution. Age-Based Contribution Limits are automatically authorized beginning with the year you reach age 50. No extra steps or approvals are necessary for age-based limits. Simply increase your contribution amount. 457 Plan Traditional Catch-Up The 457 Plan includes a catch-up provision to increase the maximum amount you may contribute to the Plan in each of the last three years before your normal retirement age. 457 Plan Traditional Catch-Up only allows you to catch up on contributions for previous years in which you were eligible to participate in the 457 Plan but didn t contribute the maximum amount. A list of annual limits per year is available within
the Traditional Catch-Up Guide available on the Savings Plus website or by calling the Savings Plus Service Center. Log in to your account on the Savings Plus website or call the Savings Plus Service Center to order your 457 Plan Traditional Catch-Up materials. The age-based contribution may not be used during the three years you re using 457 Plan Traditional Catch-Up. Additionally, the age-based contribution cannot be classified as an underutilized contribution for 457 Plan Traditional Catch-Up purposes. Uniformed Services Leave Makeup and HEART Act of 2008 Under the Uniformed Services Employment and Reemployment Rights Act (USERRA) of 1994 and the Heroes Earnings Assistance and Relief Tax (HEART) Act of 2008, State employees who leave a civilian job for military/uniformed service and are re-employed are entitled to make up for contributions to the Plan that were missed as a result of their military/uniformed service. Certain limits and restrictions apply. Go to the Savings Plus website or call the Savings Plus Service Center for more information. 2. Rollover Contributions You may consolidate your retirement assets by rolling qualified employer plans and traditional IRAs into your Savings Plus account while you re employed by the State and after you separate. Post-separation rollovers require an existing Savings Plus account with a positive balance on deposit. Before-Tax Rollovers If you have a traditional rollover IRA or a balance from a previous employer in another before-tax plan, such as a 401(k) plan, a 457 plan, or a 403(b) plan, you may transfer this amount into the before-tax portion of your Savings Plus 457 Plan account even if you re not ready to contribute. If you roll over assets from a 401(k) plan or a 403(b) plan into the Savings Plus 457 Plan, the 401(k) plan and 403(b) plan assets retain the characteristics of the 401(k) plan or 403(b) plan from which they originated. Designated Roth Rollovers If you have a balance from a previous employer in another plan allowing designated Roth contributions, you may transfer these amounts into your Savings Plus 457 Plan account. You may roll over contributions to your Savings Plus 457 Plan account even if you don t plan to contribute.
Rollovers from a Roth IRA aren t permitted into Savings Plus. If you roll your previous employer s 457 plan with designated Roth money into the Savings Plus 457 Plan, future distributions from the Savings Plus 457 Plan are tax-free as long as (a) your distribution is at least five years after your first contribution, starting with your previous plan, and (b) you re age 59½ or older when you request your distribution. 3. Transfer Unused Leave Credits to Savings Plus When you leave employment, you may transfer your unused leave credits to your Savings Plus 401(k) and 457 Plan accounts, up to the annual limit minus your current year contributions. Transferring unused leave credits to Savings Plus requires a minimum of 30 days advance notice to your employer and enrollment in Savings Plus at least one pay period prior to separation. Go to the Savings Plus website or call the Savings Plus Service Center for more information. 457 Plan Withdrawals While Employed Generally, you may not withdraw funds from the 457 Plan while you re employed prior to age 70½. However, there are certain exceptions, as discussed below. Any in-service withdrawals paid to you are subject to applicable income taxes. Voluntary In-Service Withdrawal Under this one-time provision, you may receive a distribution from the 457 Plan prior to separation if all the following criteria are met: 1. You have not contributed to your 457 Plan account in the previous 24 months. 2. You have not received a prior distribution from your 457 Plan account under this provision. 3. You don t have a freeze or hold on your account. 4. Your total account balance is $5,000 or less. 5. You don t have an outstanding loan. Your contributions into the Plan are not suspended for this withdrawal. Unforeseeable Emergency Withdrawal In certain situations, you may take an unforeseeable emergency withdrawal of your before-tax contributions and your designated Roth contributions. Approval for an unforeseeable emergency withdrawal is not automatic. You must provide supporting documentation to Savings Plus. If your request is approved, you may receive the full amount of your 457 Plan account balance including earnings up to
the amount needed to fulfill your approved financial hardship. The amount requested may include the amount needed to meet the federal and state tax withholding applied to the distribution. There is no tax penalty for this early withdrawal unless your Savings Plus 457 Plan account contains amounts received by a rollover other than one from another 457 plan. The amount that you receive as an early withdrawal that is attributable to a previous rollover could be subject to early withdrawal penalties. The entire withdrawal is taxed as ordinary income. Once you make an unforeseeable emergency withdrawal, you re prohibited from contributing to the Savings Plus 401(k) and 457 Plans for six months. Distributions After Age 70½ When you reach age 70½, you have full access to your account. You may withdraw funds from your account without penalty regardless of whether you re still employed by the State. Uniformed Service Withdrawal-457 Plan If you re on military leave for more than 30 days, you may be eligible to take a withdrawal. If you make a uniformed service withdrawal, you re prohibited from contributing to the Savings Plus 401(k) and 457 Plans for six months. Go to the Savings Plus website or call the Savings Plus Service Center for more information. Rollover Withdrawal-457 Plan If you have rolled money into a 457 Plan, you may take a withdrawal from your 457 rollover contribution account while still employed. 457 Plan Distributions After Separation Before-Tax 457 money: There is no minimum age requirement for the 457 Plan. You have full access to your 457 Plan account upon separation from State employment. Designated Roth 457 money: Distributions are tax-free income provided they re Qualified Distributions. A Qualified Distribution is a distribution that is both: 1. Made after the five-year period of participation defined as beginning with the first day of the first calendar year in which you made a designated Roth contribution to your account and ending when five (5) consecutive taxable years have been completed; and 2. Made on or after the date you attain age 59½, made to a beneficiary or your estate on or after death, or attributable to being disabled.
Distribution Start Date You don t have to take a distribution from your account upon separation from State employment. You may retain your assets in your Savings Plus account. However, the IRS requires Savings Plus participants who are no longer employed by the State to begin taking distributions when they reach age 70½. This is known as a Required Minimum Distribution (RMD). Note: You can delay your first RMD until April 1 of the calendar year following the year you turn age 70½. However, you re still required to take an additional payment that year to fulfill your RMD for that year. Direct Payment or Rollover Your choices are: 1. Direct payment: You may choose to have all or part of your account paid to you directly. Earnings on designated Roth distributions are subject to applicable taxes if the distributions aren t Qualified Distributions. 2. Direct rollover to an eligible retirement plan: Your balance may be eligible for a rollover to another employer plan or to an IRA. Payment Methods You decide how you would like your account distributed when you separate from employment. 1. Fixed installment: Monthly or annual distributions for one or more years at a specific dollar amount until your account is depleted. 2. Calculated installment: Monthly or annual distributions calculated by dividing your account balance by the number of payments you want to receive. 3. Partial distribution: An on-demand distribution in addition to your regularly scheduled periodic payments. Partial distributions reduce the amount of your future fixed-period payments or the number of remaining fixed-amount payments. 4. RMD payments: You may elect to receive your RMD payments either monthly or annually. If you don t make an election, your RMD is issued in November. Taxes Before-Tax 457 money: Most direct payments to you are subject to mandatory federal tax withholding, as well as applicable State taxes. Designated Roth 457 money: Payments are tax-free provided they re Qualified Distributions. Loans from Your 401(k) and 457 Plan Account(s)
You re eligible to take a loan from your Savings Plus 401(k) and 457 Plan account(s) if you re actively employed. ARP and PST accounts are not eligible for a loan. Additionally, you may not request a loan if you re retired (even if you return as a rehired annuitant), if you have separated from employment, if you obtained your account as a beneficiary, or as a result of a divorce. Your eligibility for a loan may also be affected if you haven t repaid previous loans deemed as a distribution. Loan approval is based solely on your employment status and account value. You repay your loan using automatic payroll deductions. You may not change the payment amount of your loan, but you may repay your loan in full at any time without a prepayment penalty by requesting an early loan payoff invoice. Types of Loans There are two types of loans available: General-purpose loan (one to five years) Primary residence loan (up to 15 years) You may have two loans at any given time for each Plan: either two general-purpose loans, or one general-purpose loan and one primary residence loan. Your loan amount is taken proportionately from all investments in your core account. Go to the Savings Plus website or call the Savings Plus Service Center for more information. Purchase Permissible Service Credit As a CalPERS member or other governmental agency member, you may use your Savings Plus 401(k) or 457 Plan account(s) for the purchase of permissible service credit. You may transfer up to the maximum amount of your official service credit quote. The transfer is a nontaxable event. A purchase of permissible service credit is made from your core investment funds only. If you want to use your Self-Directed Brokerage Account (SDBA), you must transfer the amount needed back into your Savings Plus core investment funds. Qualified Domestic Relations Orders Separation and divorce arrangements are important matters that can affect retirement benefits. For more information, visit www.qocenter.com or contact Savings Plus. Investment Choices You may choose your investments from three primary categories: Target Date Funds, Core Investment Funds, and a Self-Directed Brokerage Account (SDBA). Go to the
Savings Plus website or call the Savings Plus Service Center for detailed information or for a copy of the Savings Plus Investor Guide. Target Date Funds For convenience and simplicity, Savings Plus offers Target Date Funds that provide a diversified portfolio with a single investment option/strategy. Select the fund that relates to the year in which you expect you ll need to begin withdrawing your money. As the target date approaches, the allocation to the underlying investments shifts to a more conservative mix to preserve the accumulated balance. Core Investment Funds The core investment funds represent a range of asset categories (stocks, diversified real return, bonds, and short-term investments) with varying degrees of risk and return. You should base your mix on how long you have to invest, your risk tolerance, and your savings goals. Core Investment Funds Managed Funds (Active Management) Balanced Fund Socially Responsible Fund Short-Term Investments Short Term Investment Fun-Cash Short Term Investment Fund Bonds Bond Fund Diversified Real Return Diversified Real Return Fund Stocks Large Cap Fund Mid Cap Fund International Fund Small Cap Fund Core Investment Funds Index Funds (Passive Management) Bonds Bond Index Fund
Stocks Large Cap Index Fund Mid Cap Index Fund International Index Fund Small Cap Index Fund Target Date Funds Target Date Fund-Income Target Date Fund-2015 Target Date Fund-2020 Target Date Fund-2025 Target Date Fund-2030 Target Date Fund-2035 Target Date Fund-2040 Target Date Fund-2045 Target Date Fund-2050 Target Date Fund-2055 Target Date Fund-2060 Making Changes to Your Savings Plus Account You may make changes at any time. 1. Changing Your Contribution Amount You may change, stop, and restart your contribution amount at any time. Contribution changes take effect in the month (or pay period) following your request. Depending on payroll processing dates, the requested change may take 30 to 45 days. 2. Making Investment Changes You may change how your future contributions and current balance are invested in your 401(k) Plan, 457 Plan, or both, subject to Plan rules. Savings Plus has an excessive trading policy designed to protect our participants from the potential negative impact of market timing. Excessive trading (also known as market timing or frequent trading) is the practice of buying and selling investments frequently in an attempt to capitalize on short-term movements or pricing disparities in the market. This practice increases fund expenses, which results in higher fees and adversely affects fund performance for all shareholders invested in the fund. For information about the policy, go to the Savings Plus website or call the Savings Plus Service Center.
3. Updating Your Beneficiaries When you maintain up-to-date beneficiary information, you ensure that your account is distributed according to your wishes when loss of life occurs. If Savings Plus doesn t receive a designation from you, upon your death your assets will be paid according to a legal hierarchy that may not reflect your wishes. Additional Program Information Plan Accounting You ll receive a quarterly account statement according to the preference you selected (paper or electronic). Your statement provides details about each Plan in which you participate and your account activity during that quarter. The statement expresses your activity in dollars and units. The dollar value reflects the current market value as of the closing date on the statement. The statement reflects all activity, including contributions, withdrawals, distributions, earnings, and fees assessed to your account during the quarter. When contributions are deducted from your pay, the money is allocated among the various investment options you select. Your money remains invested in the investment options selected unless or until you transfer them to other fund option(s), or you take additional actions. When contributions are deducted from your pay, the money is allocated among the various investment options you select. Your money remains invested in the investment options selected unless or until you transfer them to other fund option(s), or you take additional actions. Savings Plus is a daily valued Plan. Aon Hewitt, the recordkeeper, updates your account value each day based upon market activity and any activity that transpired in your account, including any contributions, gains and losses, and distributions that have occurred in the account. Plan Costs Administrative charges are currently $1.50 per month, per Plan. Each Plan allows for both before-tax contributions and designated Roth contributions. If you participate in both the 457 Plan and the 401(k) Plan, you re charged one $1.50 administrative fee to each account, each month. In addition, the Plan s investment funds operating expense includes a 0.05% administrative fee that helps to offset the cost to administer Savings Plus. Investment fund expense ratios may be found on the Savings Plus website or by calling the Savings Plus Service Center. Third Party Administrator (TPA)
Aon Hewitt (Aon) is the current TPA for Savings Plus. The TPA manages the following features: Savings Plus website (savingsplusnow.com) Walk-in Service Center Service Center (Call Center) Automated voice response system (Access Direct) Participant account records Participant payments and transaction processing Quarterly statements and newsletters Forms and publications Marketing, education, and outreach Trustee/Custodian JP Morgan Chase, N.A. is the current trustee/custodian for Savings Plus. The trustee/custodian is responsible for the following: Create and maintain financial accounts needed to support the Savings Plus investment portfolio structure of both domestic and global investments. Facilitate and ensure that participant daily investment activity is properly and effectively transacted. Provide the required accounting functions to help monitor and safeguard Savings Plus assets. Calculate daily investment values (also known as Net Asset Values or NAVs) for each investment offered by Savings Plus. Reconcile daily account value. Investment Consultants Savings Plus investment consultants are responsible for the following tasks: Select and monitor third-party providers, including fund managers, the TPA, the trustee/custodian, and other outside parties that provide services to the Plans. Monitor market conditions, provide guidance for industry best practices, and monitor fund performance. Analyze and provide recommendations to Savings Plus to ensure the investment portfolio structure provides Plan participants with an opportunity to increase their retirement savings in keeping with industry best practices. Legal Counsel
The Savings Plus legal counsel is responsible for providing legal counsel and ensuring the Plan s full compliance with State and federal regulations. Services to Participants Savings Plus provides the following services: Website: You may access Savings Plus online for information and to perform transactions. You may view or request forms and brochures, educational information, and advice through savingsplusnow.com. Service Center (Call Center): Service Center representatives are available Monday through Friday from 7:00 a.m. to 7:00 p.m. PT. Call (855) 616-4SPN (4776) to speak with a representative. Voice Response System: Savings Plus has a toll-free telephone voice response system that allows 24-hour access to obtain information about your account. To use the system, call (855) 616-4SPN (4776). Educational Workshops: You may request a group presentation at your location or register to attend an educational workshop near you. Educational workshops help you determine: Which Plan is right for you; How much of your pay you want to contribute to the Plan(s), subject to the rules set by the Internal Revenue Service; How your contributions are invested; How your assets are allocated; What to do when you retire or separate; and When and how to withdraw your funds. Investment and Retirement Planning Tools: Savings Plus provides various software modules that may be downloaded from the Plan website to run what-if scenarios. This allows you to see how contributing to a Savings Plus account or changing your contribution amount affects your take-home pay, as well as perform a variety of account projections and future value calculations. One-On-One Guidance: Aon Hewitt Financial Education Specialists are here to help you review your account, starting with enrollment and continuing through the life of your account. There is no fee for this service. You may request a free one-on-one
consultation either in person or over the phone. Go to the Savings Plus website or call the Savings Plus Service Center for more information. Online Advice: Savings Plus participants have access to Online Advice through the Plan for no additional fee at savingsplusnow.com. Go to the Savings Plus website or call the Savings Plus Service Center for more information. Professional Management: Savings Plus participants may choose to participate in the Professional Management program from Aon Hewitt Financial Advisors, LLC (AFA). For a fee, AFA will create and maintain a personalized retirement strategy for your account using Savings Plus core investment funds.
Contact Information Savings Plus savingsplusnow.com (855) 616-4SPN (4776) Relay Service: Dial 711 FAX (847) 554-1804 Service Center representatives are available 7:00 a.m. to 7:00 p.m. PT, Monday-Friday for online chat or by phone Walk-in Service Center 1810 16th Street, Room 108 Sacramento, CA 95811 Enter on 16th Street, between R and S streets Walk-in Service Center is open 8:00 a.m. to 5:00 p.m. PT, Monday-Friday, excluding State holidays Mailing Address Savings Plus Service Center PO Box 563922 Charlotte, NC 28256 Overnight Mail Savings Plus Service Center 7201 Hewitt Associates Drive Charlotte, NC 28262 Note: Investing involves risk, including the possible loss of principal. Before investing in a fund, carefully consider its investment objectives, risks, and charges and expenses. The Lipper Fund Fact Sheets for the Savings Plus investment options contain this and other important information. Read them carefully before investing. You can access the Lipper Fund Fact Sheets by logging in to your account at savingsplusnow.com or by calling (855) 616-4SPN (4776). **Brokerage services are offered through Hewitt Financial Services LLC (HFS), a broker dealer. HFS is a wholly owned subsidiary of Hewitt Associates LLC.
Financial Education Specialists are affiliated with Aon Hewitt Financial Advisors LLC, a registered investment advisor, and may also be registered with Hewitt Financial Services LLC, a broker dealer, member FINRA/SIPC. Savings Plus has hired Aon Hewitt Financial Advisors to provide investment advisory services to plan participants. Aon Hewitt Financial Advisors, LLC (AFA) hired Financial Engines Advisors L.L.C. (FEA) to provide sub-advisory services. AFA is a federally registered Investment Advisor and wholly owned subsidiary of Hewitt Associates LLC. FEA is a federally registered investment advisor and wholly owned subsidiary of Financial Engines, Inc. Neither AFA nor FEA guarantee future results. SOC156.0914