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Plan to Open Up CalPERS Reflects Worry About Inadequate Saving for Retirement
The Sacramento Bee Apr. 29, 2008
Excerpt: The California plan, with direct deposit and the lower costs that likely will go with using Cal-PERS resources, takes a stab at making it easier to invest. But will workers take a bite? Probably not, said Mark Iwry, a senior fellow with the Brookings Institution and an expert on retirement savings. He helped craft the California plan and similar proposals in Connecticut and Washington state. 'If we got half, even a third, even a million of the 6 million Californians (without a retirement plan) to do this, it would be a breakthrough,' Iwry said. 'But will everyone sign up? No.'
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