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 State Program Data & Trends

Total Assets by State Program

Assets by Program

Total Funded Accounts by Program


Effective Opt-Out Rate by Program


Average Deferral Rate by Program

Average Monthly Contribution Amount by Program

Total Registered Employers by Program

Total Exempted Employers by Program

Monthly Individual State Program Specific Data & Trends

California

Key Program Metrics Snapshot
(as of September 30, 2022)

Program Performance Indicators, Monthly Percent Change
(as of September 30, 2022)

8/31/22 9/30/22 Percent Change

8/31/22 – 9/30/22
Total Assets $270,576,561 $272,215,635 0.6%
Total Funded Accounts 335,102 360,237 7.5%
Total Withdrawals $49,314,057 $53,300,368 8.1%
Accounts with Withdrawals 73,552 78,914 7.3%
Average Deferral Rate 5.08% 5.07%
Average Monthly Contribution Amount $163 $166 1.8%
Average Funded Account Balance $807 $756 -6.4%
Effective Opt Out Rate 37.54% 37.41%
Total Registered Employers 106,959 109,245 2.1%
Total Added Employee Data 86,190 88,498 2.7%
Total Submitting Payroll Deductions 27,804 32,579 17.2%
Employers Submitting Payroll Deductions (last 90 days) 26,467 31,051 17.3%
Total Exempted Employers 110,783 113,752 2.7%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers.

Illinois

Key Program Metrics Snapshot
(as of September 30, 2022)

Program Performance Indicators, Monthly Percent Change 
(as of September 30, 2022)

8/31/22 9/30/22 Percent Change

8/31/22 -9/30/22
Total Assets $89,224,084 $83,977,072 -5.9%
Total Funded Accounts 107,758 109,346 1.5%
Total Withdrawals $24,735,335 $25,695,320 3.9%
Accounts with Withdrawals 25,711

 

 26,094 1.5%
Average Deferral Rate 5.55% 5.53%
Average Monthly Contribution Amount $134.37 $144.29 7.4%
Average Funded Account Balance $828.00 $767.99 -7.3%
Effective Opt Out Rate 32.58% 31.92%
Total Registered Employers 7,046 7,486 6.2%
Employers That Added Employee Data 4,793 5,148 7.4%
Total Submitting Payroll Deductions 3,162 3,268 3.4%
Employers Submitting Payroll Deductions (last 90 days) 2,329 2,404 3.2%
Total Exempted Employers 18,301 19,159 4.7%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from IL Secure Choice.

Oregon

Key Program Metrics Snapshot
(as of August 31, 2022)

Program Performance Indicators, Monthly Percent Change 
(as of August 31, 2022)

7/31/22 8/31/22 Percent Change

7/31/22-8/31/22 

Total Assets $158,032,364 $156,901,495 -0.72%
Total Funded Accounts 114,484 114,652 0.15%
Total Withdrawals $56,277,608 $59,821,907 6.3%
Accounts with Withdrawals  

28,379

  

30,073

 6.0%
Average Deferral Rate 6.1% 6.1%
Average Monthly Contribution Amount $148  

$177

 

 19.6%
Average Funded Account Balance $1,380  

$1,369

 

 -0.87%
Opt Out Action Rate  

25.1%

  

24.9%
Total Registered Employers 17,074  

17,121

 

 0.28%
Employers That Added Employee Data 15,312  

15,426

 

 0.74%
Employers Submitting Payroll Deductions (last 90 days) 5,200  

5,232

 0.62%
Total Exempted Employers  

33,211

  

33,276

 0.20%
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

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

Key Program Metrics Snapshot (CA, IL and OR)
(as of August 31, 2022)

Program Performance Indicators
Monthly Percent Change
(as of August 31, 2022)

7/31/22 8/31/22  Percent Change -7/31/22-8/31/22
Total Assets $504,738,413 $516,702,140 2.4%
Total Funded Accounts 520,770 557,512 7.1%
Total Registered Employers 127,692 131,126 2.7%
Employers That Added Employee Data 100,725 106,409 5.6%
Employers Submitting Payroll Deductions (Past 90 Days) 26,141 34,028 30.2%
Exempted Employers 152,492 162,360 6.5%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers, IL Secure Choice, and OregonSaves.

Connecticut
Key Program Metrics Snapshot
(as of October 4, 2022)

Massachusetts
Key Program Metrics Snapshot
(as of June 30, 2022)

Washington
Key Program Metrics Snapshot
(as of June 2020)

Quarterly State Program Performance Data & Trends

California

Download full chart (PDF)

6/30/21 12/31/21 Percent Change 6/30/21-12/31/21 3/31/22 6/30/22 Percent Change 3/31/22-6/30/22 Percent Change

6/30/21-6/30/22
Total Assets $90,144,631 $173,022,007 91.94% $204,725,602 $223,049,153 8.95% 147.44%
Total Funded Accounts 158,335 217,892 37.61% 243,394 276,862 13.75% 74.86%
Total Withdrawals $8,681,689 $20,493,838 136.06% $30,065,635 $40,893,704 36.01% 371.04%
Accounts with Withdrawals 20,419 32,923 61.24% 40,689 48,693 19.67% 138.47%
Average Deferral Rate 5.09% 5.02% 5.12% 5.08%
Average Monthly Contribution Amount $142.73 $150 5.09% $164 $168 2.44% 17.70%
Average Funded Account Balance $569.14 $794 39.51% $841 $806 -4.34% 41.62%
Effective Opt Out Rates 29.96% 29.74% 31.01% 36.64%
Total Registered Employers 12,886 23,203 80.06% 38,215 98,417 157.53% 663.75%
Total Added Employee Data 8,236 15,008 82.22% 24,133 63,474 163.02% 670.69%
Total Submitting Payroll Deductions 4,312 7,059 63.71% 9,635 14,756 53.15% 242.21%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from CalSavers.

Illinois

Download full chart (PDF)

6/30/21 12/31/21 Percent Change 6/30/21-12/31/21 3/31/22 6/30/22 Percent Change 3/31/22-6/30/22 Percent Change

6/30/21-6/30/22
Total Assets $67,073,057 $84,871,970 26.54% $87,253,470 $82,742,994 -5.17% 23.36%
Total Funded Accounts 90,403 99,082 9.60% 102,664 105,459 2.72% 16.65%
Total Withdrawals $10,333,863 $15,539,645 50.38% $19,105,042 $22,369,318 17.09% 116.47%
Accounts with Withdrawals 17,495 20,796 18.87% 22,995 24,625 7.09% 40.75%
Average Deferral Rate 5.04% 5.05% 5.58% 5.56%
Average Monthly Contribution Amount $114.90 $118.19 2.86% $129.72 $135.14 4.18% 17.62%
Average Funded Account Balance $741.93 $856.58 15.45% $849.89 $784.60 -7.68% 5.75%
Effective Opt Out Rates 34.01% 33.30% 32.97% 32.80%
Total Registered Employers 6,060 6,408 5.74% 6,414 6,498 1.31% 7.23%
Total Added Employee Data 4,033 4,315 6.99% 4,349 4,450 2.32% 10.34%
Total Submitting Payroll Deductions 2,837 2,973 4.79% 3,077 3,107 0.97% 9.52%
Source: Calculations by the Georgetown University Center for Retirement Initiatives based on data from IL Secure Choice.

Oregon

Download full chart (PDF)

6/30/21 12/31/21 Percent Change 6/30/21-12/31/21 3/31/22 6/30/22 Percent Change 3/31/22-6/30/22 Percent Change

6/30/21-6/30/22
Total Assets $118,898,674 $150,010,539 26.17% $153,896,905 $146,004,291 -5.13% 23.36%
Total Funded Accounts 110,047 112,689 2.40% 114,844 115,046 0.18% 4.54%
Total Withdrawals $28,973,811 $39,274,450 35.55% $46,496,605 $54,286,395 16.75% 87.36%
Accounts with Withdrawals 24,258 20,314 -16.26% 23,863 27,577 15.56% 13.68%
Average Deferral Rate 5.50% 5.60% 6.30% 6.20%
Average Monthly Contribution Amount $131 $166 26.72% $171 $176 2.92% 34.35%
Average Funded Account Balance $1,080 $1,331 23.24% $1,340 $1,269 -5.30% 17.50%
Effective Opt Out Rates 32.20% *N/A 26.1%1 25.6%1
Total Registered Employers 16,969 17,025 0.33% 16,984 17,037 0.31% 0.40%
Total Added Employee Data 14,820 14,931 0.75% 14,959 15,146 1.25% 2.20%
Total Submitting Payroll Deductions 7,549 *N/A *N/A 5,3382 5,2802 *N/A *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)

  6/30/21 12/31/21 Percent Change 6/30/21-12/31/21 3/31/22 6/30/22 Percent Change 3/31/22-6/30/22 Percent Change 6/30/21-6/30/22
Total Assets $276,116,362 $407,904,516 47.73% $445,875,977 $451,796,438 1.33% 63.63%
Total Funded Accounts 358,785 429,663 19.76% 460,902 497,367 7.91% 38.63%
Total Registered Employers 35,915 46,636 29.85% 61,613 121,952 97.93% 239.56%
Total Added Employee Data 27,089 34,254 26.45% 43,441 83,070 91.22% 206.66%
Total Submitting Payroll Deductions 14,698 10,032*
CA and IL only		 *N/A 18,0501 23,1431 28.22% 57.46%
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)

6/30/21 12/31/21 Percent Change 6/30/21-12/31/21 6/30/22 Percent Change 12/31/21-6/30/22 Percent Change 6/30/21-6/30/22
Total Assets $276,116,362 $407,904,516 47.73% $451,796,438 10.76% 63.63%
Total Funded Accounts 358,785 429,663 19.76% 497,367 15.76% 38.63%
Total Registered Employers 35,915 46,636 29.85% 121,952 161.50% 239.56%
Total Added Employee Data 27,089 34,254 26.45% 83,070 142.51% 206.66%
Total Submitting Payroll Deductions 14,698 10,032*
CA and IL only		 *N/A 23,1431 *N/A 57.46%
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.
© Copyright 2022, Georgetown University. View complete copyright and reprint policies.