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Fees for the investment options in the CalPERS 457 Plan have decreased again
The CalPERS 457 Plan is regularly reviewed to ensure that it best serves current participants and those who will participate in the future. As of October 1st, the costs associated with investing in the Plan’s investment fund options have decreased.
With this latest fee reduction, the cost to participate now ranges between 0.21% and 0.34%, depending on the investment(s). The cost of investing in the most popular investment option, the CalPERS Target Retirement Funds, has decreased by 50% since 2020. The cost reductions allow all CalPERS 457 Plan participants to keep more of their investment dollars working in their accounts, helping to accumulate more savings over time. Read the Fee Reduction Notice for more information and share it with your employees who are interested in learning more about the CalPERS 457 Plan. For employees who are already participating in the Plan, this notice will be included in their January year-end statement.
The new reduced cost will help your employees keep more invested dollars in their account, which could mean thousands more in retirement compared to the previous Plan costs. We hope you will encourage all employees to consider participating in the CalPERS 457 Plan as a way for them to reach their retirement goals through voluntary savings.
Are you seeing new pop-up messages in myCalPERS? Here’s why. If you’ve logged into myCalPERS recently, you may have seen an enrollment pop-up notice appear. Until further notice, please dismiss these notices. More information regarding enrollment-related changes in myCalPERS will be communicated to you in the coming months. In the meantime, the CalPERS 457 Plan enrollment process remains the same. Employees must complete the forms in the Participant Enrollment Kit and return them to you for signatures before sending to Voya for processing. The CalPERS 457 Plan continues to work toward online enrollment as an option for employees who want to join the Plan. Until that enrollment functionality goes live, enrollment confirmations will continue to be mailed to your agency. If you have any questions about myCalPERS or the enrollment process, email us or call 800-696-3907 weekdays between 8 a.m. – 5 p.m. PT for a CalPERS 457 Plan representative. |
It is vital to let the CalPERS 457 Plan team know when there are changes to your personnel. Let’s work together to ensure that we have updated records of your agency’s points of contact, their roles, and how to reach them by phone and email. Please report any changes to the CalPERS 457 Plan team as soon as possible by contacting:
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Fees for the investment options in the CalPERS 457 Plan have decreased again Are you seeing new pop-up messages in myCalPERS? Here’s why. October is National Retirement Security Month. How retirement ready are your employees? Important 2024 year-end payroll reporting reminder
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