Editorial Welcomes State-Run Retiree Savings Plan Study
A Sacramento Bee editorial argues that it is "appropriate" for SB 1234 -- a bill passed by the Legislature that would "create a state-administered retirement savings plan for private-sector workers funded with an automatic 3% payroll deduction" -- to "require the state to study the feasibility of such a plan." California "cannot afford to commit to a high-risk retirement plan without absolute assurance the state won't be left with a serious liability if the fund goes belly up," it argues.
- "Editorial: Worker Savings Plan Deserves a Close Study" (Sacramento Bee, 9/26).