State Program Performance Data – Current Year

State Program Performance Data

* Data under each of these sections above is from state auto-IRA programs and cumulative across all programs, unless otherwise noted (e.g., the monthly individual state program specific data).

Monthly Individual State Program Specific Data & Trends

California

Key Program Metrics Snapshot
(as of May 31, 2023)

Program Performance Indicators, Monthly Percent Change
(as of May 31, 2023)

04/30/23 05/31/23 Percent Change 04/30/23-05/31/23
Total Assets $501,206,338 $518,998,980 3.5%
Total Contributions Amount $602,425,471 $636,871,372 5.7%
Total Withdrawals $96,617,331 $105,762,487 9.5%
Total Funded Accounts 420,734 424,603 0.9%
Accounts with Withdrawals (Full and Partial) 86,543 91,346 5.5%
Average Contribution Rate 5.16% 5.15%
Average Monthly Contribution Amount $174 $185 6.3%
Average Funded Account Balance $1,191 $1,222 2.6%
Effective Opt-Out Rate 36.34% 36.15%
Total Registered Employers 117,910 118,007 0.1%
Total Exempted Employers 124,586 124,744 0.1%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers.

Illinois

Key Program Metrics Snapshot
(as of May 31, 2023)

Program Performance Indicators, Monthly Percent Change 
(as of May 31, 2023)

04/30/23 05/31/23 Percent Change 04/30/23-05/31/23
Total Assets $116,978,692 $118,616,362 1.4%
Total Contributions Amount $145,584,441 $150,329,222 3.3%
Total Withdrawals $34,665,440 $36,333,791 4.8%
Total Funded Accounts 122,481 123,647 0.9%
Accounts with Withdrawals (Full and Partial) 32,677 33,425 2.3%
Average Contribution Rate 5.90% 5.88%
Average Monthly Contribution Amount $135 $148 9.4%
Average Funded Account Balance $955 $959 0.4%
Effective Opt-Out Rate 33.98% 33.97%
Total Registered Employers 9,610 9,718 1.1%
Total Exempted Employers 24,243 24,409 0.7%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from IL Secure Choice.

Oregon

Key Program Metrics Snapshot
(as of April 30, 2023)

Program Performance Indicators, Monthly Percent Change
(as of April 30, 2023)

03/31/23 04/30/23 Percent Change 03/31/23-04/30/23
Total Assets $189,647,528 $194,526,372 2.6%
Total Contribution Amount $271,942,497 $278,837,866 2.5%
Total Withdrawals $79,940,413 $83,200,845 4.1%
Total Funded Accounts 116,366 116,383 0.0%
Accounts with Withdrawals (Full & Partial) 38,247 39,404 3.0%
Average Contribution Rate 6.60% 6.50%
Average Monthly Contribution Amount $191 $168 -12.0%
Average Funded Account Balance $1,630 $1,671 2.5%
Opt-Out Rate Action Rate 23.6% 23.6%
Total Registered Employers 20,221 20,413 0.9%
Total Exempted Employers 34,603 34,762 0.5%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from  OregonSaves. Opt-out Action Rate = savers who opt-out only within the last 30 days

Connecticut

Key Program Metrics Snapshot
(as of May 31, 2023)

Program Performance Indicators, Monthly Percent Change
(as of May 31, 2023)

04/30/23 05/31/23 Percent Change 04/30/23-05/31/23
Total Assets $4,323,261 $5,423,058 25.4%
Total Contributions Amount $4,384,411 $5,578,771 27.2%
Total Withdrawals $184,684 $235,437 27.5%
Total Funded Accounts 11,381 14591 28.2%
Accounts with Withdrawals (Full and Partial) 485 588 21.2%
Average Contribution Rate 3.31% 3.32%
Average Monthly Contribution Amount $105 $103 -2.2%
Average Funded Account Balance $380 $372 -2.2%
Opt-Out Action Rate 18.1% 18.9%
Total Registered Employers 3,928 4251 8.2%
Total Exempted Employers 6,767 7325 8.2%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from MyCTSavings. Opt-out Action Rate = savers who opt-out only within the last 30 days

Monthly Cumulative State Program Performance Metrics (CA, IL, OR, and CT)

Key Program Metrics Snapshot (CA, IL, OR, and CT)
(as of April 30, 2023)

Program Performance Indicators
Monthly Percent Change
(as of April 30, 2023)

03/31/23 04/30/23 Percent Change 03/31/2023-04/30/2023
Total Assets $779,752,102 $817,034,663 4.8%
Total Funded Accounts 664,574  670,979 1.0%
Total Registered Employers 150,991  151,861 0.6%
Exempted Employers 188,939  190,358 0.8%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers, IL Secure Choice, MyCTSavings and OregonSaves.

Massachusetts
Key Program Metrics Snapshot
(as of February 28, 2023)

Washington
Key Program Metrics Snapshot
(as of June 2020)

Quarterly State Program Performance Data & Trends

California

Download full chart (PDF)

12/31/21 6/30/22 Percent Change 12/31/21-6/30/22 9/30/22 12/31/22 Percent Change 9/30/22-12/31/22 Percent Change

12/31/21-12/31/22
Total Assets $173,022,007

 

 $223,049,153 28.9% $272,215,635 $372,979,988 37.0%

 

 115.6%

 
Total Funded Accounts 217,892

 

 276,862 27.1% 360,237 395,972 9.9%

 

 81.7%

 
Total Withdrawals $20,493,838

 

 $40,893,704 99.5% $53,300,368

 

 $68,275,908 28.1% 233.2%

 
Accounts with Withdrawals 32,923

 

 48,693 47.9% $58,869 $69,577 18.2%

 

 111.3%

 
Average Deferral Rate 5.02%

 

 5.08% 5.07% 5.07%
Average Monthly Contribution Amount $150

 

 $168 12.0% $166 $169 1.8%

 

 12.7%

 
Average Funded Account Balance $794

 

 $806 1.5% $756 $942 24.6%

 

 18.6%

 
Effective Opt Out Rates 29.74% 36.64% 37.41% 36.84%
Total Registered Employers 23,203

 

 98,417 324.2% 109,245 115,705 5.9%

 

 398.7%

 
Total Added Employee Data 15,008 63,474 322.9% 88,498 94,552 6.8%

 

 530.0%

 
Employers Submitting Payroll

Deductions (last 90 days)

 N/A 13,755¹ 53.5% 31,051

 

 33,802 8.9%

 

 N/A

 
¹I¹California began reporting Actively Submitting Payroll (Past 90 Days) on February 28, 2022.

Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers.

Illinois

Download full chart (PDF)

12/31/21

 

 6/30/22 Percent Change 12/31/21-6/30/22

 

 9/30/22

 

 12/31/22

 

 Percent Change 9/30/22-12/31/22

 

 Percent Change 

12/31/21-12/31/22

 
Total Assets $84,871,970 $82,742,994 -2.5%

 

 $83,977,073 $98,466,419 17.3%

 

 16.0%

 
Total Funded Accounts 99,082 105,459 6.4%

 

 109,346 116,216 6.3%

 

 17.3%

 
Total Withdrawals $15,539,645 $22,369,318 43.9%

 

 $25,695,321 $28,766,940 12.0%

 

 85.1%

 
Accounts with Withdrawals 20,796 24,625 18.4%

 

 26,094 27,506 5.41% 32.27%
Average Deferral Rate 5.05% 5.56% 5.53% 5.49%
Average Monthly Contribution Amount $118.19 $135.14 14.3%

 

 $144 $131 -9.5%

 

 10.5%

 
Average Funded Account Balance $856.58 $784.60 -8.4% $768 $847 10.3%

 

 -1.1%

 
Effective Opt Out Rates 33.30% 32.80% 31.92% 32.17%
Total Registered Employers 6,408 6,498 1.4%

 

 7,486 9,312 24.4%

 

 45.32%
Total Added Employee Data 4,315 4,450 3.1%

 

 5,148 7,211 40.1% 67.1%
Employers Submitting Payroll Deductions (last 90 days) N/A 2,333¹ N/A

 

 2,404 3,044 26.6% N/A
¹Illinois began reporting Actively Submitting Payroll (Past 90 Days) on April 30, 2022.

Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from IL Secure Choice.

Oregon

Download full chart (PDF)

12/31/21 6/30/22 Percent Change 12/31/21-6/30/22 9/30/22 12/31/22

 

 Percent Change 9/30/22-12/31/22

 

 Percent Change 

12/31/21-12/31/22

 
Total Assets $150,010,539 $146,004,291 -2.7% $148,185,293 $168,705,846 13.9% 12.5%

 
Total Funded Accounts 112,689 115,046 2.1% 115,569 115,863 0.3% 2.8%

 
Total Withdrawals $39,274,450 $54,286,395 38.2% $62,368,689 $70,672,308 13.3% 79.9%

 
Accounts with Withdrawals 20,314 27,577 35.8% 31,153 34,521 10.8% 69.9%

 
Average Deferral Rate 5.60% 6.20% 6.10% 6.00%
Average Monthly Contribution Amount $166 $176 6.0% $159 $157 -1.3% -5.4%
Average Funded Account Balance $1,331 $1,269 -4.7% $1,282 $1,456 13.6% 9.4%

 
Effective Opt Out Rates *N/A 25.6%1 24.8%1 24.1%1
Total Registered Employers 17,025 17,037 0.07% 17,187 17,671 2.8% 3.8%

 
Total Added Employee Data 14,931 15,146 1.4% 15,516 16,059 3.5% 7.6%

 
Employers Submitting Payroll Deductions (last 90 days) N/A 5,2802 N/A 5,2622 5,234 -0.53% N/A
1In March 2022, OregonSaves began reporting an Opt-Out Action Rate defined as percentage of savers who opt out in the first 30 days.

2Oregon replaced Total submitting Payroll Contributions with Actively Submitting Payroll (Past 90 Days) on March 30, 2022.
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from OregonSaves.

Quarterly Cumulative State Program Performance Metrics (CA, IL, and OR)

Download full chart (PDF)

  12/31/21 6/30/2022

 

 Percent Change 12/31/22-6/30/22 9/30/22

 

 12/31/22

 

 Percent Change 9/30/22-12/31/22

 

 Percent Change 

12/31/21-12/31/22

 
Total Assets $407,904,516 $451,796,438 12.40% $504,378,001 $640,152,253 26.9% 56.9%

 
Total Funded Accounts 429,663 497,367 0.01% 585,152 628,051 7.3% 46.2%
Total Registered Employers 46,636 121,952 0.02% 133,918 142,688 6.5% 206.0%
Total Added Employee Data 34,254 83,070 0.28% 109,162 117,822 7.9% 244.0%
Employers Submitting Payroll Deductions (last 90 days) N/A 22,114¹ N/A 39,581¹ 42,994¹ 8.6% N/A
1Oregon replaced Total submitting Payroll Contributions with Actively Submitting Payroll (Past 90 Days) on March 30, 2022.

Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers, IL Secure Choice, and OregonSaves.

Semi-Annual and Annual State Program Performance Data & Trends

Semi-Annual and Annual State Program Performance Metrics (CA, IL, and OR)

12/31/21 6/30/2022 Percent Change 12/31/22-6/30/22 12/31/22 Percent Change 6/30/22-12/31/22 Percent Change 

12/31/21-12/31/22
Total Assets $407,904,516 $451,796,438 10.76% $640,152,253 41.69% 56.9%
Total Funded Accounts 429,663 497,367 15.76% 628,051 26.28% 46.2%
Total Registered Employers 46,636 121,952 161.50% 142,688 17.00% 206.0%
Total Added Employee Data 34,254 83,070 142.51% 117,822 41.83% 244.0%
Employers Submitting Payroll (Past 90 Days) N/A 22,114¹ N/A 42,994¹ 94.42% N/A
¹In March 2022 (as part of April 30, 2022 dashboard report), OregonSaves began reporting Actively Submitting Payroll (Past 90 Days) instead of Total Submitting Payroll.
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers, IL Secure Choice, and OregonSaves.
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