In a time when employers are increasingly trimming or completely forgoing employee retirement benefits, political leaders in the country's largest state hope the government can help young workers take matters into their own hands.
Just as the individual marketplace created by the Patient Protection and Affordable Care Act (PPACA) seeks to make it easier for those without employer-sponsored health care to get insurance, a proposal being considered by California legislators would set up a state-run 401(k) plan for those whose employers do not offer retirement plans.
Just as it was entirely possible (and common) to buy insurance individually before the PPACA, setting up an individual retirement account is by no means impossible either.
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