CalSavers and Ascensus announced the launch of CalSavvy, the first AI-powered chatbot designed specifically for state-sponsored auto-IRA programs. With over 600,000 employers mandated to register with CalSavers or offer a qualified retirement plan by the end of 2025, CalSavvy is designed to deliver quality information and streamline user interactions with 24/7 on-demand access.

Reinforcing Ascensus' commitment to deliver tech-forward and responsible AI solutions for clients, this partnership with the State of California marks a major milestone towards CalSavers' purpose.

"With CalSavers' new CalSavvy customer support solution, we're leveraging the power of artificial intelligence to close the retirement savings gap across the Golden State," said California State Treasurer Fiona Ma, who chairs the CalSavers Retirement Savings Board. "This bilingual service empowers both savers and employers with immediate access to accurate information about the CalSavers program, delivering on our commitment to help Californians build a secure financial future."

"Ascensus is pleased to partner with the State of California to deliver this first-of-its-kind solution, helping California to expand retirement access to hundreds of thousands of Californians," said Peg Creonte, president of Ascensus Government Savings. "This is an exciting expansion of Ascensus' broader efforts to deploy AI in support of better client experiences and higher standards of delivery. The combination of Ascensus' AI leadership and CalSavers' forward-thinking stance on retirement savings availability demonstrates the power of public-private collaboration."

CalSavvy answers common questions, in English and Spanish, about account setup, contributions, investment options, and retirement planning—without wait times or business hour restrictions. The chatbot helps savers better understand retirement savings concepts and CalSavers program features, making it easier than ever for workers across California to engage with their retirement benefits.

"CalSavers is designed to help Californians take positive financial steps towards retirement security and be part of the fabric for employers doing business in California," said David Teykaerts, CalSavers Executive Director. "Thanks to Ascensus and our shared spirit of innovation, CalSavvy is now part of that fabric and a vital resource for California businesses."

Currently, CalSavvy draws from the CalSavers public website and the California State Treasurer's Office website to answer questions. Whether employers prefer to call for assistance or self-serve, CalSavvy complements existing tools like recorded webinars, videos, and guides to make program onboarding and facilitation easier.

Future enhancements will enable personalized account support and expanded language accessibility.

Ascensus administers two of the largest state auto-IRA programs—CalSavers and Illinois Secure Choice—which together represent 72 percent of the industry's funded accounts and assets under administration.