IMPORTANT INFORMATION ABOUT YOUR SAVINGS PLUS PROGRAM PLAN ACCOUNTS - PLEASE READ
Given the national and California state of emergency declarations as a result of the COVID-19 pandemic and volatility in the global stock markets, we have decided to place the Savings Plus Program Fund Redesign and Reselection Initiative on hold until further notice. This means that the changes to Savings Plus Program’s investment lineup will not take place as previously communicated in the brochure entitled “Times Change. So Can the Way You Invest.” you received in the mail in February or March of this year. None of the Fund changes or related actions described in that brochure will occur.
We take our goal very seriously to provide you the best opportunity to build a portfolio that meets your needs throughout each stage of your life. With that being a top priority, we have made the decision not to implement the Redesign and Reselection Initiative during these unprecedented and volatile times.
As always, you can access your account online, or contact us with questions. Savings Plus is committed to addressing your concerns. There are several ways you can connect with your account or with us:
- Login to your Savings Plus account to make desired changes such as contributions, investments, update your investment strategy, and more.
- Contact the Savings Plus Service Center at (855) 616-4776 from 5 a.m. - 8 p.m. PT Monday – Friday.
- Reach out to the licensed Retirement Specialist in your area to set up an appointment.
We are doing what we can to help keep our communities and families safe while continuing to provide support and education to help you make informed decisions. We will be cancelling all upcoming live educational workshops and will conduct them via webinars. We will provide updates related to the Savings Plus Program as the state of the COVID-19 pandemic and market impact evolves. We will also provide status updates on the Fund Redesign and Reselection Initiative. Please refer to the Savings Plus Program website for the most current information. We wish you and your family the best in remaining safe and healthy.
Thank you for your participation in the Savings Plus Program.
- What does the Fund Redesign and Reselection Initiative postponement mean for my account?
Nothing has changed regarding your ability to manage your account. You can continue to make changes to your account at any time. You may make contribution and investment changes or take distributions if you choose.
- When will the Fund Redesign and Reselection Initiative be implemented?
Due to the unprecedented times we are facing we will reevaluate the best time to launch this Initiative. We will wait for the market to settle and will move forward when we feel that the environment is stable and conditions are more conducive to proceed.
- What are things to keep in mind during a volatile market?
Do not make emotional investing decisions due to the current environment. We recommend seeking out professional guidance before making any changes. Stay focused on your plan. Remember, you are investing for the long term. To help lessen the impact of market fluctuations, maintain a diversified portfolio that is suitable for your retirement goals and risk tolerance.
- Am I eligible to take an unforeseeable emergency or a hardship withdrawal from my account due to the Covid-19 Pandemic?
You may qualify for an unforeseeable emergency or a hardship withdrawal if certain criteria are met. Please review the In-Service Withdrawal page on our website for additional information.
- How do I reach Savings Plus or make changes to my account during this time?
Log into your Savings Plus account to make desired changes such as contributions, investments, update your investment strategy, and more.
Contact the Savings Plus Service Center at (855) 616-4776 from 5 a.m. - 8 p.m. PT Monday – Friday.
Reach out to the licensed Retirement Specialist in your area to set up an appointment.