Lawmakers in California are considering a state-run 401K program to help private-sector employees that don’t get a retirement savings plan from their employer.
1. What types of workers is the plan targeting?
2. How many Californians does this include?
3. How much is the expected contribution by workers?
4. Can the plan be transferred if you change jobs?
5. How is the proposed California plan, Secure Choice, going to be different from the Federal plan called myRA?
Lowenberg, O. (2016). How California wants to help workers save for retirement. The Christian Science Monitor, March 29 (Retrievable online at http://www.csmonitor.com/Business/new-economy/2016/0329/How-California-wants-to-help-workers-save-for-retirement)