Skip to comments.Democrats want to extend guaranteed retirement savings to private sector
Posted on 02/23/2012 1:50:36 PM PST by SmithL
New legislation unveiled this morning aims to build a sort of CalPERS-for-all retirement savings system that the measure's author says could cover an estimated 7 million working Californians in the private sector.
Senate Bill 1234 by Los Angeles Democratic Sen. Kevin de León would require businesses with five or more employees to enroll them in a new "Personal Pension" defined benefit program or offer an alternative employer-sponsored plan.
De León, Senate President Pro Tem Darrell Steinberg and other political and labor leaders who touted the measure noted that public discourse has focused on public employee pensions.
The press event came one day after Republicans co-opted Brown's 12-point pension plan and offered it up as their own legislation. When asked if the Democrats were offering the bill hoping to relieve pressure on them to curb public pensions, Steinberg said, "Absolutely not."
(Excerpt) Read more at blogs.sacbee.com ...
This will drive more businesses out of California. What will be left is businesses run by illegals violating the law.
Get all the private sector employees to fund their pension plans, then confiscate the money to fund the public employees’ pension plans..............
Illegals violating the law?..........you mean there are illegals that don’t violate the law?..........;^)
They could call this the
“No New Business Will Ever Start in California”
What will be left is businesses run by illegals violating the law.
Just like Mexico, like we can’t see that coming. Liberals are such dolts.
Actually, I think it would be more accurate to call it, the no businesses in California with over four employees bill.
Just watch the businesses close up shop.
This state’s leaders are committing state suicide by edict.
Now, back the the really important stuff, like banning smoking within 1000 miles of another human.
Apparently these “never had a job outside of government” drones haven’t heard of annuities, which have been around for centuries.
Edging IRA’s and 401K’s out of the market to prop-up failing gubbermint union pensions.
Coming soon to a Federal Government near you (Google “Teresa Ghilarducci”)
“Your tax dollars at work and play!”
Ok, I’ll play devils advocate here....
Why should government employees only get the benefit of taxpayer-funded pensions? Why NOT everybody?
Get all the private sector employees to fund their pension plans, then confiscate the money to fund the public employees pension plans..............
Why NOT everybody?
Agree. Everyone, including illegals should have the benefit of a secure and adequate retirement. Let’s be fair and double the present pension outlay to each and every person in the state and also cover pets who may outlive their caretakers. California is a rich state and can afford it. /s