Posts Tagged: 401(k)-style
Photo illustration of a nest egg. (Photo: Hidesy, via Shutterstock)
If you don’t give city employees a pension, what happens? San Diegans voted five years ago this month to switch all new city hires, except police, from pensions to 401(k)-style individual investment plans, becoming one of the first big cities to take the plunge.
Protesters picketed the recent appearance of pension-change advocates Chuck Reed and Carl DeMaio at the Reason summit. (Photo: Ed Mendel, Calpensions)
Calpensions: One of the two initiatives filed by a pension reform group last week would cap state and local government spending on retirement benefits for most new hires at 11 percent of pay, much like a Utah pension reform five years ago.