CalSavers, the retirement plan the state of California provides for employees whose employers do not provide one, grew like gardens in many areas in April and May. The growth in some respects was a bit more robust than that in March.
The CalSavers Retirement Savings Board reports that the number of funded saver accounts, total saver assets, employer registrations and the number of employers that started payroll deductions all increased. On the other hand, so did withdrawals; in fact, the amount withdrawn increased more from April to May than it did from March to April.
More specifically, CalSavers grew by the following measures:
| Measure | As of March 31, 2021 | As of April 30, 2021 | As of May 31, 2021 | Change, April-May | % Change, April-May |
| Employers registered | 9,957 | 10,243 | 11,074 | + 831 | + 8.1% |
| Employers that have started payroll deductions | 3,280 | 3,676 | 3,978 | + 302 | + 8.2% |
| Accounts enrolled, 1st contribution pending | 188,294 | 198,519 | 204,888 | +6,369 | + 3.2% |
| Total assets | $54,756,571.53 | $66,177,283.14 | $77,240,691.25 | +$11,063,408.11 | +16.3% |
| Average funded account balance | $425.07 | $477.50 | $520.61 | +$43.11 | +9.0% |
Withdrawals
Participants may make withdrawals from their accounts as well. The amount withdrawn, as well as the number of accounts whose holders made withdrawals, also grew in April and May.
| Measure | As of March 31, 2021 | As of April 30, 2021 | As of May 31, 2021 | Change, April-May | % Change, April-May |
| Withdrawals | $4,920,092.73 | $5,846,082.40 | $7,082,515.68 | +$1,236,433.28 | + 21.1% |
| Accounts with a partial withdrawal | 497 | 570 | 721 | +151 | +26.5% |
| Accounts with a full withdrawal | 13, 693 | 15,483 | 17,410 | +1,927 | + 12.4 |
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