The National Conference on Public Employee Retirement Systems has petitioned California Governor Edmund Brown to sign SB 1234, the California Secure Choice Retirement Savings Program, into law.
In his letter to the governor, Hank Kim, executive director and counsel for the organization, pointed out that many private-sector employers in California would like to offer an at-work retirement savings plan to employees, but most can't afford to do so.
"Millions of California workers are not in a retirement savings plan—the vast majority because there is no plan available to them. The current situation has profound implications for individual financial security in retirement, for small business growth and competitiveness, for the state's future safety-net liabilities, for future tax revenues and for long-term economic stability and growth," the letter said.
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