We collect public data from the implementing states in order to provide you with this information.

December 14, 2023

What’s up! 🥁 Drum roll please, ladies and gentlemen, the hardworking savers across the Auto IRA states have just achieved $1 billion in savings together. Our hearts are full. ♥️ Why? Because this part of proof of concept is complete: if you build it, they will use it. No idea is perfect, but you stuck your neck out, States. You built it and they are using it.

#Welldone. Much will be written about this and we're looking forward to seeing it.

Assets. The aggregated reporting Auto IRA states are reflecting $1.1 billion in assets as of November 30, 2023. Year to date assets are up 72%. By year end it is likely that assets will be 3x their level at the end of 2021, two years ago. Assets are now large enough that market impact has become a factor, and market growth is adding value to savers' accounts this month.

Funded accounts. We are now within a chef's kiss of 800,000 funded accounts. The next milestone to keep your eye on will be one million funded accounts, expected in 2024 - and it's your guess and mine how quickly this can be achieved. Account growth year to date is running at 26%, and over two years, running at close to 2x. Average account balances are just under $1,400 - more than twice their levels three years ago at the end of 2020.

Facilitating employers. Nearly 200,000 employers are registered to facilitate a state Auto IRA program. ♥️ As we have seen, about a third, or 66,000 have begun forwarding worker savings to program accounts and two-thirds are working their way through the facilitation pipeline in that direction. Imagine the power of these programs and savings when something approaching full rollout and more complete compliance is achieved. Programs with compliance efforts are seeing significant benefits from that activity.

November 30, 2023

What’s up! Assets continue to 'bop around' just under the $1 billion mark for the consolidated Auto IRAs. We think we are blasting through next month as November figures roll in, though. Stay tuned. Funded accounts and facilitating employers continue to rise.

Assets. Currently at $990.5 million, assets are up 54% since year end 2022 and 2.4x where they were at the end of 2021. 62% of these assets are in the CalSavers program. Oregon makes up 21%, Illinois 13%, and the balance of the states make up the difference.

Funded accounts. Are just under 785,000 - up 24% for the year, and 1.8x their 2021 year end levels. The average account balance is over $1,250 with many accounts having both much larger and much smaller individual balances. On average however, this is a sum 3x the level half of Americans could not rustle up in the famous Atlantic Monthly article of 2015. One figure not included in our recap above is the level of withdrawals from accounts - currently running at about 20% of total contributions in several programs.

Facilitating employers. Over 62,000 employers are facilitating payroll deductions into a state Auto IRA program, with another 130,000 or so in the pipeline. States are gently stepping into the enforcement space, as you'll see below, to ensure covered workers are actually being given the opportunity to save.

November 2, 2023

What’s up! September 2023 Data Unveiled: Your Quick Interpretation Awaits!

Assets. Year-to-date, saver assets have soared by an impressive 54%, now reaching a whopping $987 million, a remarkable 2.4x surge since December 2021. The average account balances across the programs have surpassed $1,200, with even higher balances for long-term accounts.

Although there was a drop in assets compared to the previous report, given CalSavers - September brought a surge in various crucial areas due to full-fledged enforcement efforts in the state, including a notable increase in registered employers, employers actively submitting contributions, and, most importantly, the growth of funded accounts.

Funded accounts. The six programs shown here now aggregate over 769,000 funded accounts. For comparison, funded accounts are up 1.8x since December 2021, up about 2.9x since December 2020 and up about 7.1x since December 2019 – and up in 2023.

Facilitating employers. Over 181,000 employers are now registered to facilitate a state Auto IRA. Of that number, over 62,000 have begun forwarding payroll contributions for savers.

October 19, 2023

What’s up! Here’s the latest from our reporting Auto IRA states as September 2023 data rolls in, and a quick interpretation for you.

Assets. Saver assets are up 55% year-to-date and 2.4x since December 2021 to $993 million (too close to the $1 billion mark). Average account balances across the programs are over $1,300. Longer term balances are higher.

Funded accounts. The six programs shown here now aggregate to over 758,000 funded accounts. For comparison, funded accounts are up 1.8x since December 2021, up about 2.9x since December 2020 and up about 7x since December 2019 – and up in 2023.

Facilitating employers. Over 179,000 employers are now registered to facilitate a state Auto IRA. Of that number, over 60,000 have begun forwarding payroll contributions for savers.

October 5, 2023

What’s up! Here’s the latest from our reporting Auto IRA states for August 2023, and a quick interpretation for you.

Assets. Saver assets are up 54% year-to-date and 2.4x since December 2021 to $991 million (too close to the $1 billion mark). Average account balances across the programs are over $1,300. Longer term balances are higher.

Funded accounts. The six programs shown here now aggregate to over 752,000 funded accounts. For comparison, funded accounts are up 1.8x since December 2021, up about 2.9x since December 2020 and up about 6.9x since December 2019 – and up in 2023.

Facilitating employers. Over 177,000 employers are now registered to facilitate a state Auto IRA. Of that number, nearly 60,000 have begun forwarding payroll contributions for savers.

September 21, 2023

What’s up! August data is rolling for six of the seven funded programs - excluding Virginia, where data is not yet available.

Assets. Saver assets are up 53% year-to-date and 2.4x since December 2021 to $979 million. Average account balances across the programs are over $1,300. Longer term balances are higher.

Funded accounts. The six programs shown here now aggregate to over 736,000 funded accounts. For comparison, funded accounts are up 1.7x since December 2021, up about 2.8x since December 2020 and up about 6.8x since December 2019 – and up in 2023.

Facilitating employers. Over 173,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 58,400 have begun forwarding payroll contributions for savers.

September 7, 2023

What’s up! This chart reflects Auto IRA program data as of July 31, 2023, for six of the seven funded programs - excluding Virginia, where data is not yet available.

Assets. Saver assets are up 53% year-to-date and 2.4x since December 2021 to $978 million. Average account balances across the programs are over $1,300. Longer term balances are higher.

Note: RSM metrics focus on the Auto IRA states.
We’re still shy of $1 billion by a small amount, based on this measure.

Funded accounts. The six programs shown here now aggregate to over 733,000 funded accounts. For comparison, funded accounts are up 1.7x since December 2021, up about 2.8x since December 2020 and up about 6.7x since December 2019 – and up in 2023.

Facilitating employers. Over 172,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 58,000 have begun forwarding payroll contributions for savers.

August 17, 2023

What’s up! July figures are rolling in …

Assets. Saver assets are up 44% year-to-date and 2.3x since December 2021 to $926 million. Average account balances across the programs are over $1,200. Longer term balances are higher.

Funded accounts. The six programs shown here now aggregate to over 717,000 funded accounts. For comparison, funded accounts are up 1.7x since December 2021, up about 2.7x since December 2020 and up about 6.6x since December 2019 – and up in 2023.

Facilitating employers. Over 167,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 56,900 have begun forwarding payroll contributions for savers.

July 20, 2023

What’s up! closing out the second quarter of 2023 with steady growth!

Assets. Saver assets are up 48% year-to-date and 2.3x since December 2021 to $918 million, as CalSavers remains primed for additional growth throughout 2023 as employers respond to compliance notifications. Average account balances across the programs are over $1,200. Longer term balances are higher.

Funded accounts. The six programs shown here now aggregate to over 714,000 funded accounts. For comparison, funded accounts are up 1.7x since December 2021, up about 2.7x since December 2020 and up about 6.6x since December 2019 – and up in 2023.

Facilitating employers. Over 166,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 56,600 have begun forwarding payroll contributions for savers.

June 29, 2023

What’s up! Colorado SecureSavings – welcome to the fold, and thank you for sharing your progress!

Assets. Saver assets are up 32% year-to-date and 2.1x since December 2021 to $845 million, as OregonSaves reaches the significant $200 million milestone. Average account balances across the programs are over $1,200. Longer term balances are higher.

Funded accounts. The six programs shown here now aggregate to over 703,000 funded accounts. For comparison, funded accounts are up 1.6x since December 2021, up about 2.7x since December 2020 and up about 6.5x since December 2019 – and up in 2023.

Facilitating employers. Over 164,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 55,500 have begun forwarding payroll contributions for savers.

June 15, 2023

What’s up! We now have a full set of data for May across five programs (Maryland$aves - welcome to the fold, and thank you for sharing your progress).

Assets. Saver assets are up 31% year-to-date and 2.1x since December 2021 to $840 million. Average account balances across the programs are over $1,200. Longer term balances are higher.

Funded accounts. The five programs shown here now aggregate to over 683,000 funded accounts. For comparison, funded accounts are up 1.6x since December 2021, up about 2.6x since December 2020 and up about 6.3x since December 2019 – and up in 2023.

Facilitating employers. Over 156,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 53,500 have begun forwarding payroll contributions for savers.

May 18, 2023

What’s up! We’ve got a full set of April data for the three long term Auto IRA states.

Assets. Saver assets are up 27% year-to-date and 2x since December 2021 to $817 million. Average account balances across the programs are over $1,200. Longer term balances are higher.

Funded accounts. The four programs shown here now aggregate to over 670,000 funded accounts. For comparison, funded accounts are up 1.6x since December 2021, up about 2.5x since December 2020 and up about 6.2x since December 2019 – and up in 2023.

Facilitating employers. Over 125,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 51,500 have begun forwarding payroll contributions for savers.

May 4, 2023

What’s up! April figures are rolling in.

Saver assets are up 26% year-to-date and 2x since December 2021 to $808 million. CalSavers achieved a new milestone this month, passing the mark of $500,000 million in saver assets. Average account balances across the programs are over $1,200. Longer term balances are higher.

The four programs shown here now aggregate to over 669,000 funded accounts. For comparison, funded accounts are up 1.6x since December 2021, up about 2.5x since December 2020 and up about 6x since December 2019 – and up in 2023.

Over 123,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 51,000 have begun forwarding payroll contributions for savers. CalSavers is primed for more growth throughout 2023, as enforcement efforts ramp up.

April 6, 2023

What’s up! March figures are rolling in.

Saver assets are still up 13% year-to-date and 1.8x since December 2021 to $727 million. Average account balances remain just over $1,000. Longer term balances are higher.

The four programs shown here now aggregate to over 655,000 funded accounts. For comparison, funded accounts are up 1.5x since December 2021, up about 2.5x since December 2020 and up about 6x since December 2019 – and up in 2023.

Over 150,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 49,000 have begun forwarding payroll contributions for savers.

March 9, 2023

What’s up! February figures are rolling in.

Saver assets are up 13% year-to-date and 1.8x since December 2021 to $727 million. Average account balances remain just over $1,000. Longer term balances are higher.

The four programs shown here now aggregate to over 653,000 funded accounts. For comparison, funded accounts are up 1.5x since December 2021, up about 2.5x since December 2020 and up about 6x since December 2019 – and up in 2023.

Over 146,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 49,000 have begun forwarding payroll contributions for savers.

February 23, 2023

What’s up! January results are in. Here’s what you need to know:

Saver assets are up 11% year-to-date and 1.8x since December 2021 to $715 million. Average account balances are up slightly to just over $1,000. Longer term balances are higher.

The four programs shown here now aggregate to over 643,000 funded accounts. For comparison, funded accounts up 1.5x since December 2021, up about 2.4x since December 2020 and up about 5.9x since December 2019 – and up in 2023. CalSavers exceeded 400,000 savers in January.

Over 145,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 48,000 have begun forwarding payroll contributions for savers. With employer compliance efforts ramping up and wave deadlines approaching, we expect strong growth in new savers in 2023.

January 9, 2023

Here’s what you need to know:

Saver assets are up 57% in 2022, and 4x since December 2020, to $640 million. Average account balances are up slightly to just over $1,000. (Longer term balances are higher, but not reflected in this data).

The four programs shown here now aggregate to over 630,000 funded accounts. For comparison, funded accounts are up 47% in 2022 so far, up 2.4x since December 2020 and up about 5.8x since December 2019.

Over 143,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 46,000 have begun forwarding payroll contributions for savers.

What’s interesting? Take a look at the trend over the last two years for these key stats. We think it’s a thingga beauty.

January 26, 2023

What’s up! December figures are rolling in and we are seeing an upswing in new savers and retirement savings growth. Here’s what you need to know:

Saver assets are up 58% in 2022 thus far, and 4x since December 2020, to $642 million. Average account balances are up slightly to just over $1,000. (Longer term balances are higher, but not reflected in this data).

The four programs shown here now aggregate to over 630,000 funded accounts. For comparison, funded accounts are up 47% in 2022 so far, up 2.4x since December 2020 and up about 5.8x since December 2019.

Over 142,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 48,000 have begun forwarding payroll contributions for savers.

January 12, 2023

What’s up! States are working on their data and we don’t yet have a full set for 12/31/2021. However, the data we do have is very useful. Here’s what you need to know:

Saver assets have increased from our last report, up 54% year-to-date and 3.9x since December 2020 to $628 million. Average account balances are up slightly to just over $1,000. Longer term balances are higher.

The four programs shown here now aggregate to over 618,000 funded accounts. For comparison, funded accounts are up 44% this year so far, up 2.3x since December 2020 and up about 5.7x since December 2019.

Over 139,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 47,000 have begin forwarding payroll contributions for savers.

December 15, 2022

What’s up! November figures are rolling in and we are seeing an upswing in new savers and retirement savings growth. Here’s what you need to know:

Saver assets have increased from our last report, up 51% year-to-date and 3.9x since December 2020. Average account balances are slightly increasines, now at $1,000.

The four programs shown here now aggregate to over 615,000 funded accounts. For comparison, funded accounts are up 43% this year so far, up 2.3x since December 2020 and up about 5.7x since December 2019.

Over 139,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 47,000 have begin forwarding payroll contributions for savers.

December 1, 2022

What’s up! We now have a full set of data for October across the live state programs.

Saver assets are keeping steady from our last report, up 37% year-to-date and 3.5x since December 2020. Average account balances are at $928 (in Oregon, they are $1,370).

The four programs shown here now aggregate to over 600,000 funded accounts. For comparison, funded accounts are up 40% this year so far, up 2.3x since December 2020 and up about 5.5x since December 2019.

Over 137,000 employers are now registered to facilitate a state Auto IRA. Of that number, more than 45,000 have begun forwarding payroll contributions for savers.

November 17, 2022

What’s up! Saver assets are keeping steady from our last report, up 37% year-to-date and 3.5x since December 2020. Average account balances, which dip when large volumes of new savers come on, are at $928 (in Oregon, they are $1,370).

The four programs shown here now aggregate to over 600,000 funded accounts. For comparison, funded accounts are up 40% this year so far, up 2.3x since December 2020 and up about 5.5x since December 2019.

Over 137,000 employers are now registered to facilitate a state Auto IRA program across the live state programs. Of that number, 45,000 have begin forwarding payroll contributions for savers. Another 90,000 employers are in the wings, making their way toward that threshold.

November 3, 2022

What is up? We now have new MyCTSavings data.

What we see – Funded accounts are up 37% this year so far, up 2.2x since December 2020 and up about 5.4x since December 2019. Over 134,000 employers are now registered to facilitate a state Auto IRA program.

Saver assets are up 26% year-to-date and 3.2x since December 2020. Average account balances keep on declining bit at $875, to be expected when new funded accounts surge. Finally, effective opt out rates are steady relative to December 2020 levels, at about 34%.

October 6, 2022

What we see: September figures are rolling in.

Highlights: Across the four programs, we now see over 580,000 funded accounts. For comparison, funded accounts are up 36% this year so far, up 2.2x since December 2020 and up about 5.1x since December 2019.

Over 134,000 employers are now registered to facilitate a state Auto IRA program across the live state programs. Watch this space, those numbers will continue to go up in the next few months.

Saver assets saw a slight decrease from our last report, but up 26% year-to-date and 3.2x since December 2020. Because of this we see a slight dip in average account balances, at $880. (Longer term account balances have higher averages).

September 22, 2022

What we see: August figures are rolling in.

Highlights: Saver assets are keeping steady from our last report, up 27% year-to-date and 3.2x since December 2020. Average account balances are up bit again, at $928. (Longer term account balances have higher averages.)

Across the four programs, we now see over 550,000 funded accounts. For comparison, funded accounts are up 30% this year so far, up 2.1x since December 2020 and up about 5.1x since December 2019. We expect the funded account surge to continue as CalSavers continues to digest the large number of employers included in its Wave 3 deadline. The program achieved a new milestone this month, passing the mark of 350,000 funded saver accounts.

Over 131,000 employers are now registered to facilitate a state Auto IRA program across the live state programs.

September 1, 2022

Forgive all these footnotes! Here’s what you need to know:

We’re all experiencing market headwinds, and that includes Auto IRA savers in all forms of market-based investments. Well if you’re in money market funds you’re probably happy, but that’s not usually where growth investors hang out.

We’re now including assets from the MyCTSavings program, with MarylandSaves coming into this mix shortly.

Across these four programs you’ll find we are at more than half a million funded accounts – 521,000 at most recent count. That’s up 90,000 savers since the start of the year and 2x since the end of 2020.

Assets are still shy of half a billion dollars, at about $472 million.

Nearly 128,000 employers are registered to facilitate, although only slightly more than a quarter of that number have hit the GO button and started to forward participant savings to their accounts. Watch this space, though. Those numbers are going to go up in the next few months.

August 11, 2022

What we see: July figures are rolling in and a glimpse of MyCTSavings data. Generally speaking, figures are on the rise.

Highlights: *ding ding ding* Across the four programs, funded accounts surpass the half-million mark. For comparison, funded accounts are up 21% this year so far, up 2x since December 2020 and up about 4.8x since December 2019. Nearly 128,000 employers are now registered to facilitate a state Auto IRA program.

Saver assets are keeping steady from our last report, up 13% year-to-date and 2.9x since December 2020. Average account balances keep on declining bit at $881, to be expected when new funded accounts surge. Note that these include the newest accounts for participants who have just begun saving. Finally, effective opt out rates are steady relative to December 2020 levels, at about 34%.

July 21, 2022

What we see: June figures are rolling in. Year-to-date figures show strong growth across the board, with assets steady after cash flows as experts predict a choppy back half for the investment markets for the rest of 2022.

Highlights: Across the three programs, we now see over 496,000 funded accounts. For comparison, funded accounts are up 16% this year so far, up 1.9x since December 2020 and up about 4.6x since December 2019. Over 121,000 employers are now registered to facilitate a state Auto IRA program, and we foresee this to increase with CalSavers’ recent milestone, passing the mark of 100,000 employers registered.

Saver assets are up 12% year-to-date and 2.9x since December 2020. Average account balances declined a bit at $920, to be expected when new funded accounts surge. Note that these include the newest accounts for participants who have just begun saving. In Oregon, average account balances were over $1,300 as of the end of May. Finally, effective opt out rates are up slightly, to December 2020 levels.

June 30, 2022

What we see: We now have a full set of data for May across the three funded Auto IRA programs and some new records set.

Highlights: Across the three programs, we now see over 481,000 funded accounts. For comparison, funded accounts are up 12% this year so far, up 1.8x since December 2020 and up about 4.4x since December 2019. With the next CalSavers deadline this week, registrations are picking up quickly. Over 13,000 employers registered in May, representing a 30% increase in the total registered employer count. We foresee a considerable increase in June, as the program registered over 2,400 employes in just one day.

Almost 80,000 employers are now registered to facilitate a state Auto IRA program and more than 23,000 have begun facilitating payroll deductions.

Despite market headwinds, Saver assets are up 13% year-to-date and 2.9x since December 2020. Average account balances are now at $955. Note that these include the newest accounts for participants who have just begun saving.

June 9, 2022

What we see: May figures are rolling in. Some figures are on the rise -- and in one spot we are also seeing the impact of 2022 investment markets still under pressure.

Highlights: Across the three programs, we now see over 481,000 funded accounts. For comparison, funded accounts are up 12% this year so far, up 1.8x since December 2020 and up about 4.4x since December 2019.

Over 80,000 employers are now registered to facilitate a state Auto IRA program and more than 23,000 have begun facilitating payroll deductions.

For the first time in our reporting, the average account balances picture is slightly different. Total assets are up 12% year-to-date and 2.8x since December 2020. However, most asset classes have experienced net declines in value halting the average account balance growth we’ve normally seen. Average account balances remain over $940.

May 19, 2022

What we see: April figures are rolling in. Generally speaking, figures are on the rise -- and in one spot we are also seeing the impact of 2022 investment markets under pressure.

Highlights: Across the three programs, we now see over 470,000 funded accounts. For comparison, funded accounts are up 9% this year so far, up 1.7x since December 2020 and up about 4.3x since December 2019.

Almost 70,000 employers are now registered to facilitate a state Auto IRA program and more than 21,500 have begun facilitating payroll deductions.

For the first time in our reporting, the asset picture is slightly different. Total assets are up 8% year to date and 2.6x since December 2020. However, most asset classes have experienced net declines in value for the period from January 1 through April 30 of 2022. Because of this we see a slight dip in aggregate asset values since our last report – of about $4 million. Does this make the Maryland$aves concept of an emergency savings “safety cushion” for new savers even more interesting? If you skipped over the piece above, take another look and let us know what you think.

May 5, 2022

**What we see:** We now have a full set of data for March across the three funded Auto IRA programs and CalSavers reaches a new milestone!
**Highlights:** CalSavers just exceeded 250,000 funded saver accounts. That’s a quarter of a million Californians who didn’t have a way to save at work before. **#Waytogo**. With the next employer deadline coming up many more workers will soon have access.
Across the three programs, we now see more than 460,000 funded accounts – closing in on the $500 million saved mark, but not quite there yet! For comparison, funded accounts up 7% this year so far, up 1.7x since December 2020 and up about 4.2x since December 2019.
Over 61,600 employers are now registered to facilitate and 20,400 have begun facilitating payroll deductions.
Saver assets saw a 2.8x increase over their 2020 year-end level, and are up 8x their level at December 2019, bringing the total across all programs to $445 million.

April 21, 2022

**What we see:** April figures are rolling in!
**Highlights:** Across the three programs, we now see more than 460,000 funded accounts – creeping toward the half-million mark. For comparison, funded accounts up 7% this year so far, up 1.7x since December 2020 and up about 4.2x since December 2019.
Over 61,500 employers are now registered to facilitate and 20,000 have begun facilitating payroll deductions.
Current combined assets are up $17 million since our last report, to $440 million. This is a 2.7x increase over their 2020 year-end value, and 8x their level in December 2019.

April 7, 2022

What we see: we’ve got a blend of data dates here, providing you with the most current consolidated view across the three state-wide Auto IRA programs. See the footnotes if you’d like more detail.

Highlights: Across the three programs, funded accounts are now over 450,000. For comparison, they’re up 5% this year so far, up 1.7x in the last year and up about 4.1x since December 2019.

Current combined assets are up $5 million since our last report, to $422 million. This is 2.6x increase over their year-ago value, and more than 7x their level two years ago.

Across the three programs almost 54,000 employers are now registered to facilitate and over 19,000 have begun facilitating.

March 24, 2022

What we see: February figures are rolling in, and we’ve reached a new milestone.

Wassup! It’s official – Illinois’ Secure Choice Savings Program now has over 100,000 participants. Across the three state-wide Auto IRA programs, funded accounts are up 5% this year so far, to just a whisker shy of 450,000. They’re up 1.7x in the last year and about 4.1x for the last 25 months (aka December 2019).

While March is historically a middle-of-the-road month for the U.S. stock market, and with the S&P 500 posting average gains in March of 0.5% going back to 1928, aggregate program assets are holding at $417 million. Assets are up 2.6x their year-ago value, and more than 7 times their two-years-ago levels.

CalSavers -- during the month the program saw a double digit increase in both the median and average monthly contribution amount and the number of employers registered grew by 12%. Across the three programs, almost 54,000 employers are now registered to facilitate and over 19,400 have begun facilitating payroll deductions for covered workers.

Not shown in this chart: current average savings rates for Oregon, Illinois, and California are as follows: 6.3%, 5.6%, and 5.1%. (Oregon’s program has experienced the largest number of auto-escalation events to date). Post-transition, OregonSaves is starting to show funded account growth again.

March 10, 2022

What is going on out there: Funded accounts are up 3% this year so far, to over 441,000. They’re up 1.6x in the last year and about 4x for the last 25 months. Yes, 25 months is an odd measurement period, but it takes us back to December 2019 so that’s why we’re using it.

The S&P 500 was down more than 5% for the month of January, but aggregate program assets held their own and are essentially unchanged year to date, at $407 million. Assets are up 2.4 times their year-ago value, and more than 7 times their two-years-ago levels. In fact we had to double-check that $54 million was the right number for 12/31/2019. It is.

Will aggregate program assets keep doubling every year? Only if and as new savers and new programs come aboard. Illinois is adding a new batch of savers late this year and CalSavers has a very big deadline coming up in about three months. We like the odds for 2022.

Not shown in this chart: current average savings rates for Oregon, Illinois, and California are as follows: 6.3%, 5.6%, and 5.1%. (Oregon’s program has experienced the largest number of auto-escalation events to date). Post-transition, OregonSaves is starting to show funded account growth again.

Across the three programs more than 50,400 employers are now registered to facilitate and over 18,500 have begun facilitating payroll deductions for covered workers.

February 24, 2022

What we see: January figures are rolling in, and we take a peek at emerging program data.

Funded accounts are up 2% this year so far, to almost 440,000. They’re up 1.7x since December 2020. The S&P 500 was down more than 5% for the month of January, but aggregate program assets are up about 1%, based on early data, to $410 million. Assets are up about 2.6 times their December 2020 year end value. We continue to see opt out rates ticking very gradually downward, and average savings rates, aided by auto-escalation, ticking upward.

Not shown in this chart: current average savings rates for Oregon, Illinois, and California are as follows: 6.3%, 5.6%, and 5.1%. (Oregon’s program has experienced the largest number of auto-escalation events to date). During the month, CalSavers reported double digit increases in all three phases of employer participation: a 17% increase in registrations, a 16% increase in uploaded rosters, and an 11% increase in employers beginning payroll deduction. (Go CalSavers!)

Across the three programs more than 50,400 employers are now registered to facilitate and over 18,500 have begun facilitating. Furthermore, as the programs work together to provide more detailed stats, they now report employers facilitating in the last 90 days, 15,286 as of February 9.

February 10, 2022

Breaking it down: Here’s the freshest data from the states as we start 2022.

What we see: Funded accounts are now over 430,800 – up about 63% since December 2020. Assets are at $406 million, 2.5x December of last year. Average account balances are over $940. Oregon’s average account balance is $1,330. Long term account balances in all three programs are significantly higher. We continue to see opt out rates ticking very gradually downward, and average savings rates, aided by auto-escalation, ticking upward. Not shown in this chart, Oregon’s and Illinois’ current average savings rates are 5.6% while California, with fewer savers having experienced automatic escalation yet, is averaging 5%.

Across the three programs more than 46,600 employers are now registered to facilitate and 17,775 have begun facilitating.

January 27, 2022

Breaking it down for you! We now have a full set for 12/31/2021 data. What you’ll see:

The consolidated programs closed the year with over 46,000 employers registered to facilitate, and many more coming through the “employer pipeline” as employers continue to register, upload census data, and initiate first contributions for participating savers. For employers, this is an increase of more than 60% over the course of 2021, and more than 2.4x since the start of 2020.

Funded accounts are now over 429,600, up 63% from where we were at the start of 2021, and almost 4 times greater than the start of 2020. These savers have accumulated about $408 million in combined assets, for an average account balance of almost $950.

What’s interesting? Take a look at the trend over the last two years for these key stats. We think it’s a thingga beauty.

January 13, 2022

Breaking it down for you! States are working on their data and we don’t yet have a full set for 12/31/2021. However, the data we do have is very useful. What you’ll see:

Funded accounts are now over 420,000, up 1.6x from where we were at the start of 2021, and almost 4 times greater than the start of 2020. These savers have accumulated more than $389 million in combined assets, for an average account balance of $925. (Oregon’s average account balance is over $1,300). Remember that these averages “mush” together both the newest savers and long term savers – so long term savers have balances that are higher.

More than 44,000 employers have registered to facilitate a state Auto IRA program, an increase of more than 50% over the course of 2021, and more than 2.3x since the start of 2020. More than 17,000 employers have executed first payroll deductions. That’s also an increase of 50% in 2021, and more than 3.4x since the start of 2020.

Opt out rates have declined slightly over the two year period, from about 35% to about 32%. Participation rates are the inverse of this, and have risen to 68%. Note that a portion of these workers who intend to save are waiting for their employers to complete the third step in the process: executing and forwarding payroll deductions.

December 30, 2021

Year over year: We are awaiting fresh metrics from Oregon as they process their provider transition. In the meantime, we’ve created a hybrid view that shows you the most current consolidated figures for 2021 compared to equivalent data from 2020.

What we see, very simply – assets over the last twelve months are up $240 million and 2.8x, from $134M to $375M. The number we love the most – funded accounts – is up by nearly 200,000 people to 418,620, almost double where we were a year ago. Average account size is up by about 50%, to nearly $900.

In the past year, despite the pandemic, another 18,000 employers registered to begin facilitating work-based savings and more than 6,700 of them started sending worker contributions along. Eligible worker opt out rates have declined, from a rough average of 34% to an average of 32%.

December 16, 2021

Breaking it down: Here’s the freshest data from the states.

What we see: Funded accounts are now over 418,000 – up about 60% year to date. Assets are at $375 million, 2.3x where we started the 2021 year. (Just one of many good things that happened this year, we will say). Average account balances are near $900. Oregon’s average account balance is $1,250. Long term account balances in all three programs are significantly higher. We continue to see opt out rates ticking very gradually downward, and average savings rates, aided by auto-escalation, ticking upward. Not shown in this chart, Oregon’s current average savings rate is 5.5% while Illinois and California are at 5.05% and 5.02%, respectively.

Across the three programs more than 44,000 employers are now registered to facilitate. 17,182 have begun facilitating, and the balance are working their way through the notification and first deduction process.

December 2, 2021

What is up? We now have a full set of data for October across the three funded Auto IRA programs. (We hope to add you soon, Connecticut!)

What we see – Program assets are up 9% for the month, 2.2x year to date, and 2.9x in the last 12 months. Funded accounts are up a whopping 36% in one month, 1.5x for the year, and 2.1x in the last 12 months.

The number of employers registered to facilitate is up 7% month over month, driven largely by California’s program rollout. In the month of October, the percent of employers facilitating payroll deductions into programs rose by 32%.

November 18, 2021

Keeping it simple: Here’s the freshest data from the states – reflecting October 31 results for California and Illinois; September 30 for Oregon with new data coming shortly.

What do we look for in these numbers: We like to watch the rate of growth of funded accounts year to date and over longer periods of time. We keep an eye on average account balances, recognizing that this number doesn’t reflect the larger balances of earlier and longer term savers very well – but it’s still an important metric for how accounts as a whole are growing. Not shown here, average account balances at June 2018 were $471. By year end it looks like the size will have nearly doubled.

November 4, 2021

**Keeping it simple:** Looking at the “most current” column in yellow, we see that **funded accounts** across the three programs have just crossed the 400,000 mark. Today’s 409,000 funded accounts compares to about 263,000 at the start of the year, and 193,000 one year ago. Combined assets are over $357 million, almost 3x their value a year ago.
**Average account balances** are now at $873 and up $50 from our last report. As we report, Oregon’s average account balance is higher ($1,185) because the program has been in place longer. Average 30-day saver contribution rates are $111, $138, and $143 (Illinois, Oregon, California). Employee opt out rates are steady, at about 32%.
**Employer perspective:** More than 16,800 employers are now facilitating state Auto IRAs. Another 23,500 have registered to facilitate and are in the process of providing employee roster information, which is the first step in the employee engagement process, or preparing to start payroll deductions for participating employees.

October 21, 2021

Chart-san, can you read this for us? Why yes! Check it out … funded accounts across the three programs are so close to crossing the 400,000 mark. When Oregon’s 9/30 numbers come in, we’ll be there. That’s more than 2x where we were a year ago. Combined assets are over $330 million.

Average account balances are now at $829. They dipped a little when California’s data came in because CA has so many new accounts. As reported recently, Oregon’s average account balance is higher ($1,175) because the program has been in place longer. Average 30-day saver contribution rates are $113, $138, and $143 (Illinois, Oregon, California). At these rates, balances will increase by $1,300 to $1,700 annually, not including investment impact. Employee opt out rates are steady, at about 30%.

Employer perspective: More than 16,000 employers are now facilitating state Auto IRAs. Another 29,000 have registered to facilitate and are in the process of providing employee roster information, which is the first step in the employee engagement process, or preparing to start payroll deductions for participating employees.

October 7, 2021

Breaking it down! Funded accounts across the three programs are creeping toward the 400,000 mark. Last year at this time they were under 175,000. Combined assets have doubled this year and are closing in on 3x where they were a year ago.

Average account balances are now at $833. Remember this includes both long term and brand new savers. Oregon’s average account balance is $1,175 because the program has been in place longer. Average 30-day saver contribution rates are $114, $138, and $143 (Illinois, Oregon, California). At these rates, balances will increase by $1,300 to $1,700 annually, not including investment impact. Employee opt out rates are steady, at about 30%.

Employer perspective: Nearly 16,000 employers are now facilitating state Auto IRAs. Another 22,000 have registered to facilitate and are in the process of providing employee roster information, which is the first step in the employee engagement process, or preparing to start payroll deductions for participating employees.

September 9, 2021