0984 Secure Choice Retirement Svngs Invst Brd
Program Descriptions

10 - The California Secure Choice Retirement Savings Investment Board (SCIB) was established to conduct a market analysis to determine whether the necessary conditions for implementation of the Secure Choice Retirement Savings Program can be met, including, but not limited to, likely participation rates, participants' comfort with various investment vehicles and degree of risk, contribution levels, and the rate of account closures and rollovers. The SCIB shall conduct the analysis only if funds are made available through a nonprofit or private entity, or from federal funding. The Board shall implement the Program and open it for enrollment only if it determines, based on the market analysis, that the Program will be self-sustaining, and only if an authorizing statute is enacted that expresses the approval of the Legislature for the Program to be fully implemented.