CalSavers, the retirement plan the state of California provides for employees whose employers do not provide one, showed strong growth in some respects in June but held steady in others.
The CalSavers Retirement Savings Board reports that the number of employer registrations increased at double the rate by which they increased in May. June 30 had been the deadline by which employers with 51-100 employers that do not offer a plan had to register with CalSavers. The next registration deadline will be June 30, 2022, the date by which employers with five or more will have to register.
CalSavers growth rates in other areas did not show such a dramatic increase. The growth in the number of accounts enrolled with their first contribution pending took place at half the rate of the growth that took place in May. Total assets increased from May to June at the roughly the same rate as they did from April to May.
More specifically, CalSavers grew by the following measures:
| Measure | As of April 30, 2021 | As of May 31, 2021 | As of June 30, 2021 | Change, May-June | % Change, May-June |
| Employers registered | 10,243 | 11,074 | 12,886 | + 1,812 | + 16.4% |
| Employers that have started payroll deductions | 3,676 | 3,978 | 4,312 | + 334 | + 8.4% |
| Accounts enrolled, 1st contribution pending | 198,519 | 204,888 | 208,089 | +3,201 | + 1.6% |
| Total assets | $66,177,283.14 | $77,240,691.25 | $90,114,631.20 | +$12,873,939.195 | +16.7% |
| Average funded account balance | $477.50 | $520.61 | $569.14 | +$48.53 | +9.3% |
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 The amount withdrawn, as well as the number of accounts whose holders made withdrawals, also grew in June; however, the rates of change held roughly steady as those in May.
| Measure | As of April 30, 2021 | As of May 31, 2021 | As of June 30, 2021 | Change, May-June | % Change, May-June |
| Withdrawals | $5,846,082.40 | $7,082,515.68 | $8,681,688.99 | +$1,599,173.31 | +22.6% |
| Accounts with a partial withdrawal | 570 | 721 | 904 | +183 | +25.3% |
| Accounts with a full withdrawal | 15,483 | 17,410 | 19,515 | +2,105 | +12.1% |
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