"Savings Plus" is a voluntary program offered by the State of California through CalHR and administered by Nationwide Retirement Solutions. These plans allow you to invest in your future by building a retirement savings account that go into investments you select from the diverse Savings Plus fund lineup. This program allows eligible CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments, via two deferred compensation plans: a 401(k) and a 457. These contributions are made through payroll deductions, prior to federal and state taxes being calculated.
Currently, a participant could elect to contribute a maximum pre-tax deduction of $18,000 for the 401(k) plan and $18,000 for the 457 plan for 2017. There is no employer matching contribution to this program.
For additional information regarding this program, including maximum contribution amounts, catch-up allowances, and administration of the Savings Plus program, refer to the Savings Plus website.