Retirement security may be getting a boost in the private sector.
Senate Bill 1234, dubbed the "California Secure Choice Retirement Savings Act", passed through the Senate with a 23-13 vote. It now heads to the Assembly, where it is expected to face resistance from GOP legislators.
The bill would provide a state-managed modest retirement plan for the nearly 7 million Californians who don’t have access to an employer-provided retirment plan.
What do you think? Will this bill help alleviate "pension envy" among non-state employees? Or will it further strain the public pension system?