"Opponents of a bill that would create the nation's first state-run retirement program for private-sector workers testified Wednesday that California taxpayers cannot afford to take on the potential for billions of dollars in new liabilities at a time when the state's public pension systems already are facing massive shortfalls. Businesses, insurance companies and financial services firms criticized ... [a bill that] would establish the California Secure Choice Retirement Savings Program for nearly 7 million low-income workers whose private employers don't offer retirement plans."