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Benefits: Savings Plus Program Changes

Effective January 2, 2013

To:  All Eligible State Employees

Re:  Savings Plus Program Enhancements Coming January 2, 2013

The current Savings Plus contract for administrative services with Nationwide Retirement Solutions expires at the end of the year. After a thorough proposal and evaluation process, Savings Plus awarded the new contract to Aon Hewitt effective January 2, 2013. This change brings exciting new features, cutting-edge technology, and interactive tools designed to make retirement planning easier.

You don’t need to take any action right now―transition guides have been mailed and detail everything you need to know about the transition, including key dates and any actions you need to take. Visit calhr.ca.gov and review the Frequently Asked Questions and Answers guide for more information about the transition.

Some of the upcoming enhancements include:

  • A new, robust website for account management
  • Investment advice to take the guesswork out of your retirement planning
  • Automated rebalancing for optimized investment results
  • Mobile access for retirement planning on the go

Invest in You

Savings Plus provides you the opportunity to invest in your future financial security. Even if you expect to receive a pension and Social Security, it may not be enough for your retirement. The additional retirement income from your Savings Plus account may help close that retirement income gap.

If you are eligible and don’t currently participate in Savings Plus, the State of California’s 401(k) and 457 plans, the upcoming enhancements make this a great time to consider enrolling. Visit sppforu.com or call (866) 566-4777 to enroll today! You can enroll through Nationwide until December 26, 2012, or through Aon Hewitt beginning January 2, 2013.

This information is provided by the Human Resources Service Center – Benefits unit, benefits@csuchico.edu, (530) 898-5436.