CalWatchdog Morning Read – August 26

by CalWatchdog Staff | August 26, 2016 8:55 am

Good morning. TGIF. As we trudge through the few days left in the legislative session, each day brings plenty of action. On Thursday, a savings-for-all plan passed the Assembly that, if signed into law, will automatically enroll many employees into a state-run individual retirement system.

Secure Choice[1] would require employers of five or more people to automatically enroll employees into portable retirement accounts, with an opt-out clause for the individual.

Proponents of the measure say that while everyone already has the option of investing in a wide variety of retirement accounts, they aren’t — the approximately 7 million people in the state who don’t have employer-based retirement accounts need to be nudged into planning for the future.

CalWatchdog[2] has more.

In other news:

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Senate:

Gov. Brown:

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Endnotes:
  1. Secure Choice: http://calwatchdog.com/2016/03/29/lawmakers-take-step-toward-retirement-fund-californians/
  2. CalWatchdog: http://calwatchdog.com/2016/08/25/assembly-approves-bill-establishing-state-run-retirement-accounts/
  3. The Sacramento Bee: http://www.sacbee.com/news/politics-government/capitol-alert/article97901207.html
  4. CalWatchdog: http://calwatchdog.com/2016/08/25/ferret-ban-california-not-gone-just-yet/
  5. Los Angeles Times: http://www.latimes.com/politics/essential/la-pol-sac-essential-politics-updates-developer-incentive-to-build-low-income-1472157277-htmlstory.html
  6. The San Jose Mercury News: http://www.mercurynews.com/crime-courts/ci_30291369/brock-turner-judge-stanford-sex-trial-no-longer

Source URL: https://calwatchdog.com/2016/08/26/calwatchdog-morning-read-august-26/