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California Pension Initiative Has Significant Savings, Costs
Calpensions Aug. 4, 2015
"The official analysis of a proposed public pension initiative issued last week said 'likely large savings' in retirement benefits would be offset by pressure for higher pay and other costs. But the analysis does not estimate whether it would be a net gain or loss for government employers. The initiative would open the door for what supporters of state and local government pensions have long feared -- a switch to 401(k)-style individual investment retirement plans widely used by private-sector employers to avoid long-term debt and investment risk."
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