CPR: State policy makers on Monday inched closer to a state-run retirement system for workers who don’t have access to employer-run accounts.
Secure Choice, if implemented, would require employers of five or more people to automatically enroll employees into portable retirement accounts, with an opt-out clause for the individual.
While everyone has the ability to go check-in-hand to invest in a retirement account at any time, proponents of the measure point to the fact that many are not. The theory behind the bill is that 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. MORE
California is the Sweden of the US. It was lucky, particularly thanks to geography, and developed a powerful economy. Now it’s living off its earlier efforts, still fortunate that some wealthy people will put up with its oppressive taxation to enjoy the beach, and descending into economic oblivion.
Creeping socialism is now galloping!
If the rest of us don’t have to chip in and it keeps leftists from leaving CA, it’s a great idea!
“nudging”. . .. ever since Cass Sunstein, I’ve come to hate. . . nay, LOATHE that word.
Convince the CA critters that the road to socialistic nirvana lays to the west….march gayly forward, you California homos, lesbos, t boys and t girls, dhimmo unregistered yet voting coyotes…commies and socialists…. march into the sun as it sets…..Satan welcomes you with open arms and pitchforks….
How about California nudges the fuck out of my life – thank you very much.
It’s about control of the money, and that’s all.
Well why not? The state is hopelessly bankrupt anyway. Why not make another promise they can’t keep? But for the sake of the nation, they should build a Berlin wall around the state so those loony ideas don’t infect the rest of the nation.
More money for the commies to steal from people who actually work.
How long before the Feds bail em out?
Already bailing out Puerto Rico – not money LOST – money BURNED.
izlamo delenda est …
State should build a large fence around California and cut off all lines of communication from the rest of the country so they can’t sink us along with themselves.
I did my time in that shithole; it was a beautiful place in the 1950s, and they ruined it. That crime alone justifies my feelings for all those ignorant dhimmis who chose suicide of state over fixing the problems.
@judgeroybean, I wrote this before I read the comments. I’m still posting it. Fed up minds think alike, and that’s great. 🙂
And the left invents another “right” we will all have to pay for.
And people thought Ahnold was such a bad thing….