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Business News: California's new retirement program, do we need it?

Original post made on Mar 5, 2013

The media coverage of last year's presidential election drowned out the news of a controversial retirement program announced by the state of California, the California Secure Choice Retirement Savings Program. While its intentions are good, the details show serious limitations and unnecessary use of taxpayer money.

Read the full story here Web Link posted Tuesday, March 5, 2013, 7:46 AM

Comments (4)

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Posted by Chemist
a resident of Downtown
on Mar 5, 2013 at 9:09 am

Gary,
Do you believe that people who are stupid enough to vote for Jerry Brown could actually have enough sense to set up and manage their own IRA? We need this state-run program to take care of us!
Chemist


 +   Like this comment
Posted by Charlie Brown
a resident of Pleasanton Valley
on Mar 5, 2013 at 10:08 am

Wow, a retirement program run by the state, sounds like a plan to me, especially in light of their performance in running the state.


 +   Like this comment
Posted by local
a resident of Another Pleasanton neighborhood
on Mar 5, 2013 at 2:09 pm

I would love to be part of the California Retirement program. I can then leave the state and not be responsible for the funding of my retirement. The suckers left in California would be responsible for the deficits. Sort of the like the California residents being responsible for the funding of the California public employee retirement system deficits.


 +   Like this comment
Posted by Gary Alt
a resident of Del Prado
on Mar 6, 2013 at 8:25 am

Gary Alt is a registered user.

If anyone wants to read SB 1234, you can find it here: Web Link

If the state has limited dollars, every Sacramento bureaucrat employed is one less teacher, firefighter, or police officer employed. Our state cannot afford to spend money in areas where solutions already exist, let alone a sub-standard one.


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