Editorial Calls State-Run Plan for Private Retirees a ‘Bad Idea’

A USA Today editorial criticizes a new California law (SB 1234) that creates a state-managed retirement fund on behalf of private-sector workers. It argues, "Though encouraging people to save for the elder years is a noble cause, getting states into the business of running another kind of retirement fund, when they have done such a poor job with their existing ones, is a bad idea."

• "Editorial: California Pension Plan Is a Bad Trend" (USA Today, 10/9).