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California rainbow near Death Valley Now rechristened CalSavers, the plan will cover workers in companies with at least 5 workers. (Photo: AP)

They’ve been at it for more than four years, but suddenly California legislators’ efforts to create a retirement plan for workers in the private sector whose bosses don’t offer them one are picking up steam.

That’s according to the San Francisco Chronicle, which reports that although all the bugs aren’t worked out yet, the program—originally called Secure Choice but now rechristened CalSavers—will cover workers in companies with at least five workers that do not offer those workers a qualified retirement plan.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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