If you are currently employed with the State of California and you are a member of CalPERS or if you are an active judge and a member of the Judges Retirement System I or II, you are eligible to participate in the Supplemental Contributions Plan (SCP).

To enroll in the SCP, you merely complete a Supplemental Contributions Plan Employee Action Form which you can obtain by calling the CalPERS Information Line at 1-800-260-0659 or by downloading the form from this website."

Before you join, decide what dollar amount from your pay you want to contribute to the Plan. The amount should not exceed the yearly maximum IRS limit. Next, decide how you want your contribution allocated among your choice of investment options. The Target Retirement Date Funds have been designated as the default investment under the Plan. IF YOU DO NOT MAKE AN AFFIRMATIVE INVESTMENT ELECTION PRIOR TO THE DATE THE FIRST CONTRIBUTION IS DEPOSITED INTO YOU ACCOUNT, YOUR CONTRIBUTIONS WILL BE INVESTED IN THE APPROPRIATE TARGET RETREMENT DATE FUND, BASED ON YOUR DATE OF BIRTH AND ASSUMING YOU WILL RETIRE AT AGE 59. Prior to investing you should carefully review all fund information and objectives and consider consulting with an outside investment adviser.

Finally, designate the beneficiaries you want to receive your money in the event of your death. Then sign and return the form to the address printed on the form. It’s that easy.

Section 415 (c) of the Internal Revenue Code (IRC) sets limits on the annual amount you can contribute. Review the Supplemental Contributions Plan IRC 415(c) Limit Worksheet to determine the amount you are able to contribute. This and all other forms are located on the website. Once you have completed this worksheet, complete the Supplemental Contributions Plan Employee Action Form for both cash and payroll deductions and the Supplemental Contributions Plan Beneficiary Designation Form. Be sure to include your Social Security number on all checks. Submit all forms and checks to:

Voya Financial
Attn: CalPERS
PO Box 389
Hartford, CT 06141

An important feature of the SCP is your ability to direct your own investments. With the SCP, you have ready access to information about your account, including your daily account balance, the price per share of your holdings in the plan, and the performance of your investments. You can transfer funds between investments and perform various transactions concerning your account. Most plan transactions and information requests can be made 24 hours a day, 7 days a week by calling the CalPERS Information Line at 1-800-260-0659.

Your account access is protected by use of your password and your Social Security number. If you need assistance or have forgotten your password, Participant Service Representatives are available Monday through Friday, 6:00 AM to 5:00 PM Pacific Time except on New York Stock Exchange holidays to help.

Transactions completed before 1:00 PM Pacific Time will be processed the same day. Transactions completed after 1:00 PM Pacific Time will be processed the next business day.

Contributions to the plan are by cash in the form of a check or through payroll deductions. You may also contribute to a deferred compensation or 401(k) plan along with the Supplemental Contributions Plan as long as you remain within the Internal Revenue Code (IRC) limits. Participants with SCP POFF Rollover Funds are not eligible to contribute to the plan.

The IRC 415(c) annual contribution limitation must be followed. You may save a specified dollar amount of your pay on an after-tax basis, subject to the maximum contribution limit of $66,000.00 or 100% of compensation for 2023. Thereafter, the elective deferral limit will be indexed for inflation.

The Supplemental Contributions Plan IRC 415(c) Limit Worksheet available for download from this website will aid you in computing your specified limitation and is annually required of all participants. When initially enrolling you must submit this Worksheet and every year thereafter when you continue to contribute to the plan

If you are currently contributing to the Savings Plus Program 401(k) plan or to a Tax Shelter Annuity 403(b) plan, it is possible you may not be eligible to contribute to the SCP due to Internal Revenue Code limitations. Please review the worksheet to determine if you are eligible to contribute to the SCP.

You may change your contribution amount at any time by completing the Supplemental Contributions Plan Employee Action Form and returning it to:

Voya Financial
Attn: CalPERS
P.O. Box 389
Hartford, CT 06141

You may obtain a copy of the form by downloading it from this website or by calling the CalPERS Information Line at 1-800-260-0659. Any changes you make to your contribution amount will usually take effect within two pay periods, depending on when you make the change.

When it comes to investing, people have different levels of risk tolerance and experience. There are some that have limited knowledge in actively developing an investment portfolio and there are those who prefer to select their own mix of investments.

Offering a simple approach to investing, the Plan’s investment lineup is organized into choices designed to match your level of interest in investing, making investing easier for everyone.

Your choice, simplified. Rounding out our investment line-up is a Self-Managed Account option that provides you greater fund selection, name brand mutual fund access, and FDIC-insured investment products. The FDIC-insured investment products consist of traditional CDs from a variety of issuers. The Self-Managed Account, if your employer offers this as an option, gives you unparalleled selection to build your own customized investment portfolio by selecting from nearly 4,000 mutual funds in 300 fund families.

In making your investment selection, you can choose to invest your contributions, in 1% increments adding up to 100%, in any combination of the following:

HELP-ME-DO-IT
DO-IT-MYSELF
Plus a Self-Managed Account (If your employer has adopted this option)*

You may change your fund elections at any time by calling the CalPERS Information Line at 1-800-260-0659.

* Contributions from payroll cannot be made directly to the SMA. For investment in the SMA, you may direct your contributions to the Short-Term Investment Fund, where they can accumulate until you are ready to transfer funds to the SMA.

The PCRA is a self-directed brokerage account (SDBA) designed to complement your CalPERS Supplemental Contributions Plan core investments. PCRA gives you greater access to thousands of additional investment choices. It is different than a typical retail brokerage account because it is part of your retirement plan. Because your assets are part of a retirement plan, your investments are tax-deferred. You can only fund your PCRA through transfers from your CalPERS Supplemental Contributions Plan core investments.

To open an account, a minimum transfer amount of $1,000 applies for initial and $250 for subsequent transfers. In addition, a minimum core fund investment balance of $1,000 must be maintained. The plan charges an annual plan administration fee of 5 basis points and a $50 annual maintenance fee. These fees are deducted pro rata on a monthly basis.

You can enroll in the Charles Schwab PCRA through your online account.

• Navigate to Investments & Research / Self Directed Brokerage Account page
• Choose ‘Open an Account’ on the Self Directed Brokerage Account page
• User is brought to the Terms & Conditions. Read information, check the box and click Continue
• User is brought to Schwab PCRA EAO Terms & Conditions page. Read information and click Accept
• Choose ‘Open new PCRA’ (or, Open new ROTH PCRA)
• Consent to Online App Process – click Continue
• Complete the Schwab PCRA Account Application
• Once Account Application is completed, the PCRA account number is displayed.

Click Continue to register new account access with Schwab.

Note: Investors should carefully consider information contained in the prospectus, including investment objectives, risks, trading policies, charges and expenses. You can request a prospectus by calling Schwab’s dedicated PCRA Call Center at 1-888-393-PCRA (7272). You may also request a prospectus online at www.schwab.com/prospectus. Please read the prospectus carefully before investing.

Schwab Personal Choice Retirement Account® (PCRA) is offered through Charles Schwab & Co., Inc. (Member SIPC), a registered broker-dealer which also provides other brokerage and custody services to its customers.

Self Directed Brokerage Account Fact Sheet (SDBA)

Your funds in the SCP are held in trust for the exclusive benefit of you and your beneficiaries. You are always 100% vested in your own contributions, and the investment earnings on those contributions.

You may move money between investment options any time through the Account section of this Web site by logging on and selecting "Manage Investments" Under the Investment & Research tab or by calling the automated Plan Information Line at 1-800-260-0659. If you need assistance you can call the Plan Information Line, Monday - Friday, 6:00 a.m. to 5:00 p.m. Pacific Time and speak with a Participant Service Representative. The options for moving money are:

Fund Transfers - You may move money from one fund to another. Transfers must be made in 1% increments, and will be effective the same business day if made before 1 p.m. Pacific Time. You cannot transfer money from one fund to another and back to the original fund in the same day.

Reallocate Balances - You may change the way your current balance is invested across all funds at any time. The "Reallocate Balances" transfer transaction must be in percentages and in increments of 1%. Rebalance Account – You may choose to have your account balances reallocated automatically at the end of each quarter to your current Elected Percentages. Transactions completed before 1:00 p.m. Pacific Time will be processed the same business day. Transactions completed after 1:00 p.m. Pacific Time. will be processed the next business day. You may cancel a transaction if you do so before 1:00 p.m. Pacific Time on the same day the transaction is made.

The SCP is a retirement savings plan. Generally, you cannot withdraw money from your plan account while you are still employed by your employer.
If you have SCP POFF Rollover Funds, the options below apply:

You may begin taking distributions from your CalPERS account at any time, however, IRS rules governing early distribution penalties may apply if you haven’t attained age 59½. The Plan offers you the flexibility to receive:

• a lump sum
• a partial lump sum
• payments for a specific time period
• payments based on your life expectancy or the combined life expectancy of you and your spouse.

Monthly, quarterly, semi-annual or annual payment options are available and you may change your payment frequency whenever you need to. You may also increase, decrease or cease your benefit payments, unless you have started receiving Required Minimum Distributions after reaching age 73.

You have a variety of choices available to you for receiving a distribution of your money in the SCP once you have terminated from service with your employer:

You may take a distribution of your money in the plan immediately upon termination of employment, regardless of your age, if you have terminated for a reason other than death, disability or retirement. If you have terminated for retirement, you may take a distribution from the plan no earlier than the date for which you are eligible for retirement under the CalPERS pension plan. You may delay taking a distribution for retirement until any later year you select, provided you begin distribution no later than April of the year following the year in which you turn age 73. If you have terminated because of disability, you may take a distribution from the plan only upon a determination by the CalPERS board that you have a disability of permanent or extended and uncertain duration. Upon your death, your beneficiary may take a distribution of your account.

You, or in the event of your death, your beneficiary may take a distribution of your money in a single lump sum, or in substantially level installment payments extending no longer than your or your beneficiary’s life expectancy. Installment payments may be taken over a payout period you select for as long or as short as you want provided the payout period does not exceed your life expectancy.

If authorized by the transferee plan, you may transfer the tax-deferred earnings on your SCP contributions to a 457, 403(b) or 401(k) plan of another employer for whom you go to work after separating from service with your current employer. You may also rollover the tax-deferred earnings on your SCP contributions to an Individual Retirement Account (IRA). Since your contributions have been made on an after-tax basis, the amount you have contributed has already been taxed and will be returned to you without additional taxation. The earnings on your contributions, however, will be taxable upon distribution.

The distribution choices and tax rules governing them are complicated. You are encouraged to talk with a tax advisor or financial planner before deciding how to take your distribution.
If you have SCP POFF Rollover Funds, the options below apply:

You may begin taking distributions from your CalPERS account at any time, however, IRS rules governing early distribution penalties may apply if you haven’t attained age 59½. The Plan offers you the flexibility to receive:

• a lump sum
• a partial lump sum
• payments for a specific time period
• payments based on your life expectancy or the combined life expectancy of you and your spouse.

Monthly, quarterly, semi-annual or annual payment options are available and you may change your payment frequency whenever you need to. You may also increase, decrease or cease your benefit payments, unless you have started receiving Required Minimum Distributions after reaching age 73.

The Supplemental Contribution Plan provides its core investments and services at low cost using a simple and fair fee schedule.

The total fees add to less than one percent per year, no matter what investments you select, or how much you use the plan's services. There are no other fees. Please see schedule below for each fund's total fees.*