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July 27, 2013

Minus the soon-after-passage to be revealed "fee" to the state for going to all that trouble....

California tries to mandate retirement savings for private workers: The money would go into a new state fund with a guarantee that all withheld funds plus investment gains will be available for distribution at retirement age.

Posted by gerardvanderleun at July 27, 2013 3:34 PM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

Why would anyone trust a state government promise?

Why wouldn't any investment returns be taxable as federal income each year?

Posted by: KTWO at July 27, 2013 4:08 PM

It will go great with the Social Security checks they'll never see.

Posted by: Dan at July 27, 2013 5:33 PM

Investment gains? California? Yagoddabekiddingme.

Posted by: BillH at July 27, 2013 5:54 PM

Can't loot the pension funds of workers if they don't save!

Posted by: Christopher Taylor at July 27, 2013 6:03 PM

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAAAAAAAHHHHHHHAAAAAAAHHHHHAAAAAAAHHHHHHHAAAAAAHAHAHAHAHAHAHAAHHA.

Pull the other one, it has got bells on!

Posted by: TmjUtah at July 27, 2013 8:11 PM

Social Security has worked out so well....forgeddaboudit.

Posted by: Jimmy J. at July 27, 2013 8:11 PM

Darn it, sorry for screwing up the format. Please forgive me.

Posted by: TmjUtah at July 27, 2013 8:13 PM

Never Utah!

Posted by: vanderleun at July 27, 2013 8:27 PM

If Jon Corzine was allowed to loot segregated MFG funds, why won't CA State government be allowed to do the same?

Posted by: Michael Richards MD at July 27, 2013 9:52 PM

no, no, this is for people for whom 401k and ira savings plans are out of reach...because saving for retirement is so hard. name one person for whom either of those is out of reach. just one. like Christopher said pull the other one it has bells.

Posted by: leon at July 28, 2013 5:31 AM

Just something else that the asshats in Sacramento could tax and/or loot. One more reason (as if more were needed) why I choose not to live in the People's Republic of California.

Posted by: waltj at July 28, 2013 6:07 AM

It will be like the social security trust fund which was actually the social security slush fund.

Posted by: Ray at July 28, 2013 10:25 AM

I'll gladly pay you Tuesday for a hamburger today.

Posted by: chasmatic at July 28, 2013 4:09 PM

If all the pols who vote for this personally guarantee their personal and family fortunes to back this in event of failure...well, not even then.

Posted by: Sam L. at July 29, 2013 1:01 PM

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