Savings Plus Program

The Savings Plus Plan (SPP) is a voluntary program offered by the Department of Personnel Administration (DPA) and administered by Nationwide Retirement Solutions. This program allows eligible state and CSU employees to save toward retirement by investing pre-tax contributions in tax-deferred investments, via two deferred compensation plans: a Thrift Plan (IRC 401k) and a Deferred Compensation Plan (IRC 457). Contributions are made solely by the employee through payroll deductions, prior to federal and state taxes being calculated. With the exception of the following, all employees (including rehired annuitants and FERP participants) are eligible to participate in the Savings Plus program:

•  Part-time, seasonal or temporary employees who are contributing mandatorily to the PST (Part-time, Seasonal, Temporary) Retirement Plan.

How to Enroll

All plan participants must complete an online application in order to start payroll deductions toward an SPP account via the Savings Plus website. Once the account is established, plan participants can initiate payroll deductions via SPP's Voice Response Unit or Website. Transactions made as late as 1 p.m. on the last business day of the month will be processed with the next pay period. For example, payroll deductions initiated on August 30, will be processed during the September pay period, and the contribution will be deducted from the October pay warrant.

Savings Plus Customer Service

The Savings Plus Customer Service line is available to take calls from all California State University employees. The support line is staffed with a dedicated group of client service professionals that will be available to provide:

•  Guidance on the login process
•  Answers to general navigation questions, and
•  Assistance on how to use the enrollment screens

The participant support line is available Monday through Friday (excluding holidays) from 7:00 am to 7:00 pm Pacific Time. The Savings Plus Customer Services number is 1-855-616-4776.

Annual Contribution Limits

For the 2013 tax year, a participant can elect to contribute up to $17,500 to a 403(b) or 401(k) plan, subject to the 415(c) limit, and $17,500 to a governmental 457(b) plan, for a total contribution of up to $35,000.

Please note, participants may contribute to both a 403(b) and 401(k) plan in the same tax year, however,combined contributions across both plans cannot exceed $17,500.