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California Senate Approves Bill Creating State Retirement for Private Workers
CBS News Link to more items from this source
May 31, 2012
"Unlike individual retirement accounts, [the bill's sponsor] said his legislation would create a 'defined benefit retirement' plan with a guaranteed rate of return. He described the California Secure Choice Retirement Savings Act as a supplement to Social Security for nearly 7 million Californians without access to a workplace retirement plan.... [The bill] now moves to the Assembly."

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