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California State-Run Private-Sector Retirement Plan Gets Donors for Start-Up Costs
Calpensions
Feb. 3, 2014
"[A California] attempt to create the first state-run 'automatic IRA' for workers with no retirement plan has its first donors, authorization to hire consultants and a favorable response from a wide range of groups asked for advice.... Secure Choice would not require employers to contribute to the plan. But opponents of the De Leon bill argued that employers will be burdened with distributing forms, answering questions, collecting opt-out forms and transferring contributions."
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