Opinion Piece Questions New Private Retirees’ Pension Law

In a Contra Costa Times opinion piece, Rich Danker, economics director at American Principles Project, writes that a new law (SB 1234) that creates a state-managed retirement fund on behalf of private-sector workers "has the potential to retrofit the defined benefit pension model -- discarded by most companies a long time ago -- over the California businesses who can least afford it." He adds that "mandating employer-provided accounts and promising state-sanctioned investment return further confuses retirement as an expectation, rather than objective."

• "Rich Danker: California Doubles Down on Pension Promising" (Danker, Contra Costa Times, 11/10).