Government Affairs
Employee opt outs from CalSavers and Illinois Secure Choice, the programs California and Illinois run that provide retirement plan coverage for employees whose employers do not offer a retirement plan, are down as December starts.
Both plans allow employees to opt out of participating if they choose to do so. In both states, the opt-out rates have been near or above 30% during the period June-November 2020. The rate has been dropping consistently in Illinois during that time; California’s rose from June to September but has fallen since then.
CalSavers Opt-Out Rates
| Month | Opt-Out Rate | Change Since Previous Month |
| November | 30.82% | - 3.71 percentage points |
| October | 34.53% | - 0.01 percentage points |
| September | 34.54% | + 1.03 percentage points |
| August | 33.57% | + 2.03 percentage points |
| July | 31.54% | + 1.62 percentage points |
| June | 29.92% | -- |
Illinois Secure Choice Opt-Out Rates
| Month | Opt-Out Rate | Change Since Previous Month |
| November | 36.38% | - 0.39 percentage points |
| October | 36.77% | - 0.35 percentage points |
| September | 37.21% | - 0.49 percentage points |
| August | 37.60% | - 0.35 percentage points |
| July | 37.95% | - 0.42 percentage points |
| June | 38.37% | - 0.21 percentage points |
The Illinois Secure Choice opt-out rate for the first five months of 2020 fell from 39.48% in January to 38.58% in May.
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