Celebrating 50 years of excellence!

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Fifty years ago, Savings Plus embarked on a mission—to secure the financial futures of public employees. Today, we stand at the threshold of a golden milestone, celebrating half a century of excellence. Join us as we reflect on the past, honor our achievements, and look ahead to a brighter future together.

Timeline of key events

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1970s: Inception and Early Growth
  • 1974: The 457(b) Plan is implemented by the Department of General Services in response to petitions from California cities and counties. Savings Plus emerged with 1,660 participants and $15.6 million in assets invested in the plan.
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1980s and 1990s: Evolution and Expansion
  • 1981: The program transitions to the Department of Personnel Administration (DPA) (now Department of Human Resources, CalHR). The 401(k) Plan is introduced. Plan assets exceed $1 billion.
  • 1991: The Part-time, Seasonal, and Temporary Employees Retirement Program (PST) is implemented to provide retirement savings for employees not covered by CalPERS or Social Security.
  • 1998: The self-directed brokerage option is added to the main plan (401(k) and 457(b)) to give participants more investment options and even greater control over their investment strategy.
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2000s and 2010s: Innovation and Recognition
  • 2001: Nationwide Retirement Solutions becomes our trusted third-party administrator (TPA), ensuring seamless plan management and participant support.
  • 2010: We’re honored as Plan Sponsor of the Year by Plan Sponsor Magazine.
  • 2011, 2018, 2019: We’re honored with four awards for our efforts in participant education and communication by the National Association of Government Defined Contribution Administrators (NAGDCA).
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2020s: Breaking Barriers and Adaptation
  • 2021: The program modifies its Plan Document, allowing PST participants to contribute to the main plan alongside their colleagues.
  • 2022: Sandy Blair begins to serve as the Chief Administrator.
  • 2022: We’re honored with awards for our efforts in participant education and communication by NAGDCA and Pensions & Investments (P&I). The winning efforts are part of our “Recipe for Success” campaign, designed to give participants the ingredients they need to set themselves and their loved ones up for success with retirement planning and life-long financial wellness.
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Present Day
  • 2024: Our program manages over $22.5 billion in assets, serving approximately 315,000 plan participants.

Executive Director’s Reflection
"Fifty years of dedication have shaped our legacy. We look forward to continuing to serve and empower you and future generations to reach their retirement goals. Join us in celebrating the plan’s success and shaping your future," — Sandy Blair, Chief Administrator