0984 Secure Choice Retirement Svngs Invst Brd
0910 - SECURE CHOICE RETIREMENT SAVINGS INVESTMENT BOARD
The California Secure Choice Retirement Savings Investment Board (the "Board") was established to conduct a market analysis to determine whether the necessary conditions for implementation of the California Secure Choice Retirement Savings Program (the "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 Board 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 only if it determines, based on the market analysis, that the Program will be self-sustaining; funds are made available through a nonprofit or other private entity, federal funding, or an annual Budget Act appropriation in amounts sufficient to allow the Board to implement the Program until the California Secure Choice Retirement Savings Trust has sufficient funds to be self-sustaining; and an authorizing statute is enacted that expresses the approval of the Legislature for the Program to be fully implemented.