The decision to participate is up to the individual employee. Over 100 different companies are available for employees to invest with through monthly pre-tax payroll deduction. Because the CSU has a monthly payroll, employees may submit a new SRA each pay period if desired. This rule applies to new SRAs, SRA changes and cancellations. Plan in the same tax year, the contribution limits for the various plans are all interrelated.
Funding is provided by fees charged to plan participants.
Savings Plus is a long-term savings program that gives members two ways to save for retirement. The State of California offers eligible employees two plans authorized by the Internal Revenue Code. 277 is received in the Savings Plus Office no later than the last day of the month.